Cyberabad’s cybercrime police have arrested two scamsters for their involvement in an investment fraud, which resulted in a loss of `57,66,944 for the victim. ((Representational Image:DC File Photo)
Hyderabad:Cyberabad’s cybercrime police have arrested two scamsters for their involvement in an investment fraud, which resulted in a loss of `57,66,944 for the victim. The accused were Sharath E.S. and Yadhu Krishnan from Kerala while the main conspirator, Sochan, is operating from Dubai.
The victim was contacted by fraudsters impersonating as representatives of an investment platform. They initially provided stock recommendations and encouraged him to invest using an app. After a few successful withdrawals, the victim was pressured to deposit money for allocated shares.
Upon attempting to withdraw his money, he was asked to pay a 22 per cent tax on the withdrawal, which he paid, but ended up losing the funds.
( Source : Deccan Chronicle )
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