Online trading scam busted, two held in Hyderabad

According to the police, Kaushik Banerjee and Renu Jadhav had collected money from several persons on pretext of investment in online trading and assured of good returns on their stakes

Hyderabad: An inter-state online trading scam was busted by the Hyderabad Cybercrime police following the arrest of two persons from the city. The police suspect that the duo had duped several people to the tune of Rs.34 crores.

According to the police, Kaushik Banerjee and Renu Jadhav had collected money from several persons on pretext of investment in online trading and assured of good returns on their stakes.

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“Believing them several persons had paid different amounts over a period of time. After collecting the amount the two persons had cheated them,” said K V M Prasad, ACP Cybercrime Hyderabad. He added that the most of the victims were from the two Telugu States of Andhra Pradesh and Telangana.

On a complaint made by a victim from Begumpet, a case was registered a few months ago and the two persons arrested. They were produced before the court and remanded.

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