During interrogation, Ankit admitted to supplying bank accounts to the prime accused, Deepak Kumar, who is absconding.
Hyderabad: The city cybercrime unit (CCCU) arrested an Uttar Pradesh-based fraudster who cheated victims of Rs 6 crore in trading scams in 23 offences across the country from 2023. The accused, Ankit, 38, a private company employee, was apprehended in UP and brought to Hyderabad on Saturday.
During interrogation, Ankit admitted to supplying bank accounts to the prime accused, Deepak Kumar, who is absconding.
Ankit also confessed to his role in 23 frauds, including duping a local victim of Rs 1,22,87,120, said CCS, cybercrime, DCP D. Kavitha. The case was taken up after a city-based victim lodged a complaint stating that cyber fraudsters had contacted him through social messaging app and offered free stock trading tips. According to cybercrime ACP R.G. Siva Maruthi the fraudsters initially provided guidance on stock trading and later redirected the victim to trading apps controlled by them, promising high profits.
Trusting their claims, the victim transferred Rs 1,22,87,120 in all to the trading apps. His account dashboard displayed enormous profits. However, when the victim attempted to withdraw his funds, the fraudsters refused, giving various pretexts. They then demanded additional deposits, threatening to block his user ID and cease communication if he did not comply.
Ankit acted as an account holder and supplier, providing three bank accounts to Deepak Kumar on a commission basis. Investigations revealed that transactions worth Rs6 crore were carried out through these accounts as part of the scam. The accused had formed an organised group to deceive investors by posing as trading experts. Legal proceedings have been initiated to issue a lookout circular against Deepak Kumar. The cybercrime police registered a case under the IT Act and the IPC and produced Ankit before a court for judicial remand.
Police have warned the public against fraudulent investment schemes on social media platforms such as Telegram, WhatsApp, X, Instagram and Facebook, which promise high returns with minimal risk. They urged investors to be cautious of schemes displaying fake profit screenshots, to use SEBI-approved apps for trading and to consult SEBI-registered financial advisors before making investments.
Scammers often deposit small amounts into victims’ accounts to gain their trust before blocking withdrawals. Victims of cyber fraud are advised to immediately dial 1930 or visit cybercrime.gov.in to report such incidents.
Cyber crooks dupe bizman of Rs 2.94L
Cyber fraudsters duped a 44-year-old businessman of Rs 2.94 lakh by gaining access to his credit card through a malicious APK file. According to the complainant, he began receiving multiple messages indicating unauthorised transactions on his bank credit card. Alarmed, he immediately contacted the bank’s customer care. Upon checking his phone, he noticed that an APK file had been received in a WhatsApp group.
As the auto-download option was enabled, the file was automatically installed. Realising this, the victim promptly uninstalled the application and lodged a complaint online, said city cybercrime ACP R.G. Siva Maruthi.
The victim suspected that unknown fraudsters accessed his phone through the APK file, leading to unauthorised transactions. A case has been registered, and an investigation is underway, ACP Maruthi added.
