Hyderabad: The Hyderabad cybercrime police arrested two persons for duping a local woman to the tune of Rs 3,79,000.
As per her complaint, the 52-year-old victim from Troopbazaar in Hyderabad came across an advertisement on Facebook promoting “Block Trading.”
She clicked the link and was redirected to a WhatsApp group ‘K-2 Nuvama Wealth Group,’ operated by the two accused – L Anand Reddy and E Laxma Reddy.
The victim was contacted by a person named ‘Kangana Sharma,’ persuading her to invest and claiming food profits in return.
In May, the victim invested Rs 10,000/- and was able to withdraw a small profit, which created a sense of trust. Over time, she invested multiple times in various amounts.
She realised she was duped only when she was unable to withdraw the money. According to her complaint, ‘Kangana Sharma’ informed her that a 30 percent “profit tax” payment was required to process the withdrawal.
Sensing trouble, the victim refused to send the money. She lost all touch with ‘Kangana Sharma’ thereafter.
During the investigation, the Hyderabad cybercrime team discovered that Laxma Reddy had a fraudulent account, and Anand Reddy was actively involved in orchestrating a fraudulent scheme that utilised multiple bank accounts.
Upon setting up these mule accounts, they approached gullible victims under the false pretence of offering lucrative investment opportunities, thereby inducing them to deposit substantial sums of money into their accounts.
Once the money was transferred, Laxma and Anand used cheque books and internet banking credentials linked to those accounts to access the funds.
Apart from the money, the Hyderabad cybercrime team seized four SIM cards and two mobile phones.
A case has been registered and further investigations are on.
Public advisory
• Fake Investment Frauds often appear as Links/receiving Calls/, through WhatsApp/Telegram Messages social media platforms, or Fake company websites.
• Victims may receive unsolicited calls, messages, or emails from scammers claiming to represent reputable companies.
• Scammers use professional language and tone, even show fake profits, to build trust with victims.
• They create fake investment profits on fake websites/applications, and other portals to appear legitimate.
• Be cautious of unsolicited calls and messages: Stay wary of unexpected Investment offers or messages.
• Legitimate companies do not ask/approach or directly ask to invest in their companies
• Victims of cybercrime can get immediate help by dialling 1930 or visiting cybercrime.gov.in
Follow on Twitter | Posted by Veena Nair | 
