Teams from city cybercrimes unit (CCCU) arrested an inter-state stock trading fraudster from Ahmedabad, who is involved in 16 fraud cases, including three in Telangana.
Hyderabad:Teams from city cybercrimes unit (CCCU) arrested an inter-state stock trading fraudster from Ahmedabad, who is involved in 16 fraud cases, including three in Telangana.
The accused Lalitkumar Jayswal, 33, was picked from his native place Vinzol in Ahmedabad and brought to the city on Thursday.
The case came to light after the fraudster duped a city-based victim of `6.20 lakh by a WhatsApp group, where screenshots were shared of profits from stock trading, cybercrimes DCP D. Kavitha said.
The victim was trapped into opening an equity trading account. He invested after getting tempted by assurances of earning ten times profits.
After the victim transferred Rs 6.2 lakh in the accounts, the fraudsters threatened and demanded additional money from him.
The modus operandi was to contact victims through social messaging platforms. They sent messages offering huge profits in short time through stock market trading and displayed screenshots of huge returns and trapped the victim.
Lalitkumar confessed to committing similar frauds in Tamil Nadu, Maharashtra, West Bengal, Jharkhand, Kerala, Karnataka, Punjab and Delhi, DCP added.
Police recovered three mobile phones, a laptop, four debit cards and five cheque books from the fraudster.
Later, he was produced before the court for judicial remand.
Public advisory:
To protect yourself from cybercrime and financial fraud: Be cautious of online stock trading suggestions, investment frauds, and offers promising huge returns in the short term, multi-bagger stock suggestions, or investments in IPOs and mutual funds.
Scammers approach victims through various social media platforms, including Telegram, WhatsApp, X, Instagram, and Facebook, by advertising fake investment apps or websites.
Cybercrime fraud victims must dial 1930 or
https://cybercrime.gov.in for assistance
