Two held for cheating in Hyderabad

The arrested persons were Rajdeep Javeri (27) and Anil Karkala Upadhyaya (53)

Hyderabad: The Hyderabad Central Crime Station police arrested two persons from Mumbai on charges of cheating people in the name of shares and stock investments. The arrested persons were Rajdeep Javeri (27) and Anil Karkala Upadhyaya (53).

According to the police, a complaint was lodged by a resident of Film Nagar alleging he and his family members had invested as much as Rs 7 crore for online share trading between 2017 and 2019. The suspects had allegedly violated rules and without purchasing any shares or stocks and diverted the funds into their personal bank accounts by providing fabricated stock holding certificates and fake contact notes.

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When the complainant insisted on returning the principal amount, the suspects shut down their office and dodged him, CCS officials said, adding that it was found out that the suspects had cheated more than 300 persons from Karnataka, Tamil Nadu and Gujarat.

The two were arrested from Mumbai and produced before a court in Hyderabad, after which they were remanded in judicial custody.

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