Six held for helping cyber fraudsters in high-return investment scam

Hyderabad Cyber Crime Police have arrested six persons for allegedly facilitating a trading fraud that cheated a city resident of Rs 1.22 crore. The accused reportedly provided bank accounts to cyber fraudsters and earned commissions for enabling illegal financial transactions.

HYDERABAD: The Hyderabad Cyber Crime police arrested six persons who were allegedly involved in cheating the public and siphoning off their funds on pretext of high investments in trading fraud.

According to the police, a man from the city was duped of Rs 1.22 crore in a trading fraud, and following a complaint, the police registered a case.

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The arrested persons had provided their bank accounts to the fraudsters for transfer of funds from the victim. The arrested individuals hail from different parts of the country and earned commission for providing their accounts for the financial transactions of the cyber fraud, said the police.