5 Apprehended for Deceiving A Woman in Hyderabad of ₹3 Crore in A Trading Fraud

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5 Apprehended for Deceiving A Woman in Hyderabad

5 Apprehended for Deceiving A Woman in Hyderabad of ₹3 Crore in A Trading Fraud

Synopsis:

Police confiscated ₹8 lakh in cash, a laptop, and 12 mobile phones from the fraudsters.

Hyderabad (Telangana): The Hyderabad Cyber Crime Police apprehended five individuals who were involved in a trading scam and deceived the victim by falsely promising substantial profits through investments in the stock market.

The individuals who have been apprehended are Swayam Timaniya, Meet Timaniya, Brijesh Patel, Harsh Pandya, and Shankar Lal. The Hyderabad police received a complaint in November 2023 from a resident of Hyderabad.

The victim reported that an individual contacted her and urged her to invest in the stock market with a company called Unity Stocks, promising a 100% return.  The accused person then instructed her to deposit the funds into various stock market and gaming websites, such as Dafabet, Unity Exchange, and T20 IPL.  The victim was told that if she invested a large sum of money and held it for six months, she would receive a minimum return of 30%.

The complainant deposited a sum of ₹3,16,34,764 into the bank accounts offered by the accused.  The police in Hyderabad registered a case under Cr. No. 2495/2023 and conducted an investigation, as stated by the Cyber Crime police.

“In this instance, Ronak Tanna, an individual involved in providing fraudulent accounts, was apprehended on December 31, 2023.”

Subsequently, it is discovered that the illicit funds are once again channeled into Indian accounts before being transferred through Angadia (Hawala) networks.  The police have detained all five individuals who were aiding the main suspects, Arjun and Yug, in laundering the fraudulently obtained money through hawala in Ahmedabad and Gandhi Nagar, Gujarat state.

The authorities confiscated a sum of ₹8 lakh in currency, along with a single laptop and a dozen mobile phones from the individuals in question.

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space.  Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM.  Naager entered the field of content in an unusual way.  He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts.  He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field.  In the bottom line, he frequently writes for Craw Security.

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