Punjab man held in Rs 86.65 lakh cyber fraud case in Hyderabad

A Punjab man was arrested by Hyderabad Cyber Crime police for allowing cyber fraudsters to use his bank account. The fraud involved duping a city-based freelancer of Rs 86.65 lakh through a fake stock trading offer shared via WhatsApp.

Hyderabad: A 27-year-old man from Punjab was arrested by the Hyderabad Cyber Crime police for providing his bank account to cyber fraudsters. The bank account was used to dupe several persons, including a city-based man of Rs 86.65 lakh.

The arrested, Gurdit Singh (28), a resident of Jantanagar in Punjab, had provided his account to cyber fraudsters who conned a city-based freelancer into transferring Rs 86,65,563 on the pretext of stock trading into that bank account.

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In April 2025, the victim had received a message on WhatsApp about daily trading in institutional stocks, OTC trades and IPOs and was assured huge returns. The conmen cheated him after he transferred the huge amount over a period of time.

A case was registered and the account holder, Gurdit Singh, was traced and arrested. The police are investigating.