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Hyderabad Police uncovers a fraud involving 15,000 people who were duped of over ₹700 crore in less than a year. The scamsters used technology to dupe victims by sending messages to invest small amounts, eventually leading to losses of millions
According to Hyderabad Police Commissioner CV Anand, it was found during the investigation that a portion of the amount also got transferred to a crypto wallet used by a terror outfit. The police chief said since there was a need for a thorough probe with coordination at the national level, the case would be brought to the notice of the Union government.
Hyderabad cyber crime wing on Saturday announced the arrest of 9 people, who were part of the Chinese-promoted Rs 712 crore fraud.
A man who said he lost Rs 28 lakh after taking up an online part-time job that he had found on Telegram is the complainant in the case.
The cyber crimes unit of the Hyderabad police unearthed a Rs 712 Crore investment fraud and nabbed nine persons involved in the case.