Hyderabad:The Cyberabad cybercrime police has arrested a fraudster in connection with an investment scam that defrauded a 63-year-old retiree of `2.92 crore. The fraudster had threatened the elderly person with a "digital arrest", and coerced him into making payments.
The police identified the accused as Manish Gyan Chand, while two others, Vijay Manuja and Bhavesh Murali, were arrested in the last week of October.
According to the police, the fraud began when the victim joined a WhatsApp group, led by a person named Gaurav Kumar, who promised lucrative trading insights.
The victim was convinced by their claims, registered on a trading platform, and followed their advice to transfer substantial amounts of money.
When he attempted to withdraw his funds, the accused imposed various demands for additional payments, effectively placing him under "digital arrest." The victim ultimately realised he had been scammed and registered a complaint with the police in the first week of October.
The investigation revealed that the fraudsters exploited the victim's trust, using various tactics to block withdrawals and restrict his access to funds. In addition to Gyan Chand, another suspect, Bhavesh Murali Adnani, was arrested earlier.
