Nine arrested in online trading fraud case in Hyderabad

Malkajgiri police arrested nine individuals involved in an online trading fraud. The gang duped a professor of Rs 36.35 lakh in a stock market scam. Seized items include laptops, phones, ATM cards, cheque books, and identification documents.

Hyderabad: Nine persons who are allegedly linked to an online trading fraud were arrested by the Malkajgiri police on Wednesday. The police seized a laptop, 3 routers, 45 mobile phones, cheque books – 25, ATM cards – 40, SIM cards – 20 and identification documents from them.

The arrested are K Revanth Kumar, Ketha Vidya Charan, Kolanti Shiva Varma, Pavan, M Shiva, K Chandra Sekhar, M Karthikeya Varma, and N Shiva.

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According to the police, a professor in the city was duped of Rs. 36.35 lakh by the cyber fraudsters who lured him into investing in stock market, assuring him of high returns. The victim later realised that he had been duped by the fraudsters and approached the police. A case was registered and the gang was arrested from West Godavari, AP.