HYDERABAD: Cybercrime sleuths from the city busted a fake call centre based at Chittoor district’s Pileru town and arrested five persons for cheating 140 persons from whom they collected RS 1.08 crore in the name of giving foolproof tips on making money in share market trading.
The prime accused Tippannagari Sai Saran Kumar Reddy established a bogus company ‘Integear consultancy pvt ltd at Piler in Annamayya district without the mandated SEBI registration. He appointed 38 women as tele-callers and trained them, said Sneha Mehra, Deputy Commissioner of Police (CCS) at a press conference here on Wednesday.
Reddy obtained traders’ data and he was joined in by the other accused Kotholla Mahesh, Reddivari Haribabu Yadav, Korru Ajit and Madiga Diwakar. The tele-callers contacted potential victims and assured them they would be given profit-making tips by their proven in-house market analysis team, Sneha said, while detailing their modus operandi.
On gaining their confidence and acquiring account details, the victims were informed that their demat account would be operated by professional traders, who are past masters in the trade, she said. The gullible people, expecting windfalls, deposited money in the accounts provided by the fraudsters and not in their respective demat accounts.
Once the victim deposited money, none from the ‘company’ responded to calls. They have cheated
140 persons and collected Rs 1.08 crore from them, the DCP said.
Incidentally, CCS took up the case after a victim from the city lodged a complaint on July 11 stating that the fraudsters had cheated him of Rs 2.60 lakh on the pretext of providing share market tips.
CCS officials recovered six mobile phones and 31 laptops from their possession. They were produced before the court.
