Two arrested for duping Hyderabad man of Rs 67.6 lakh in stock market scam

Hyderabad Cybercrime Unit arrested two persons for cheating a 57-year-old man by promising high returns in stock trading. The accused lured the victim into investing and later defrauded him. Cash and mobile phones were recovered

Hyderabad: The Hyderabad Cybercrime unit nabbed two persons for allegedly cheating an elderly man from the city to the tune of Rs 67.6 lakh on the pretext of good returns in stock trading.

The arrested persons — Mehulbhai Ramani and Hardik Kumar — along with their associates, lured the 57-year-old man to invest in the stock market and promised him hefty returns, but cheated him.

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Trusting their claims, the victim deposited Rs 67.6 lakh in their account.

The police recovered cash of Rs 1 lakh and two mobile phones from the accused.