PhD scholar arrested from Hyderabad for cheating Delhi-based man of Rs 20 lakh

The accused, Lakku Akhileshwar Reddy, is a resident of Telangana who is pursuing a PhD in Business Management and runs a flex printing business, police said. "A complaint was received at the National Cyber Crime Reporting (NCRP) portal where Akshay Kumar Singh, a resident of Dwarka in Delhi, stated that on November 23 last year, he received a message on the online messaging app Telegram about a part-time job," Deputy Commissioner of Police (Dwarka) Ankit Singh said.

According to the complaint, the accused asked Singh to create an account on a website for buying and selling cryptocurrency and some prepaid tasks were assigned to him. "Following instructions of the accused, the complainant invested Rs 20.16 lakh but he was cheated. Upon receiving the complaint, an FIR was registered and an investigation taken up," the DCP said.

During the investigation, bank account details were checked to trace the money trail, police said, adding the bank accounts were found registered in Telangana. Following this, a Delhi Police team reached Hyderabad and nabbed Reddy on July 11, the DCP officer.

"Reddy disclosed that one Shiva is also involved in the crime. A hunt is on to nab the other accused," he said. According to the police, five cyber crime cases were solved with Reddy's arrest.