Adilabad police arrest two in ₹1.19 crore fraud
ADILABAD: High returns lure victims into stock market fraud scheme
Police arrested two persons for allegedly cheating 25 people of ₹1,19,04,000 by promising high returns through online stock market investments.
District Superintendent of Police Akhil Mahajan said the accused collected large sums by showing fake profits through an application and misleading investors.
Case registered at Utnoor police station, probe continues
A case was registered at Utnoor police station under Crime No. 35/2026, invoking Sections 316(2), 318(4) read with 3(5) of the Bharatiya Nyaya Sanhita.
The accused were identified as Syed Javed, 39, and Kottapelli Gangadhar, 35, an RMP doctor from Ghanpur village. Investigation revealed that they targeted residents of Utnoor and nearby villages, persuading about 25 people to invest.
Police seize phones, documents; accused sent to remand
Police seized iPhone 16 Pro, Vivo V29E, Vivo Y2 mobile phones, bank passbooks, and property documents, including open plot and house papers.
Based on a complaint filed on Sunday by Anandwar Manoj Kumar, 21, a student from Shampur village, police registered the case and began investigation. The accused were taken into custody on Monday and remanded.
Adilabad police arrest two in ₹1.19 crore scam
Police in Utnoor, Adilabad district, arrested two men for allegedly cheating around 25 people of ₹1.19 crore by promising high returns in online stock trading.
The accused, Syed Javed and Kottapelli Gangadhar, lured victims by… pic.twitter.com/eBt5G0vrzR
— Hyderabad Mail (@Hyderabad_Mail) April 7, 2026
Police said the accused spent the defrauded money on personal expenses and purchased houses and plots.
Officials advised the public to remain alert against such schemes promising high returns. Victims, if any, were urged to approach the district police.
