Hyderabad cops arrest Uttar Pradesh man involved in 23 trading fraud cases across India
Hyderabad: The Hyderabad City Cybercrimes team has arrested Ankit Arora, a 38-year-old private employee from Uttar Pradesh, for his involvement in a trading fraud. Ankit Arora is linked to 23 similar cases across India.
According to the case details, a resident of Secunderabad filed a complaint stating that he was contacted by cyber fraudsters on Telegram (ID: Doll6726@Navyaand). The scammers convinced him to invest in stocks by offering free trading tips. After a few days, the fraudsters directed him to trading applications where they claimed he could earn huge profits.
The victim trusted the fraudsters and transferred a total of Rs. 1,22,87,120 (Rs. 1.22 crore) into accounts controlled by them. When the victim attempted to withdraw his earnings, the fraudsters denied the request, citing various reasons. They demanded that he deposit additional funds, threatening to block his account if he refused.
A case was registered at the Cyber Crimes Police Station in Hyderabad, with charges including Sections 66 C and D of the IT Act, and Sections 384, 419, 420, 467, 468, and 471 of the IPC.
Ankit Arora, the accused in this case, supplied bank accounts to Deepak Kumar, the main fraudster, who is currently absconding. Ankit Arora provided three accounts to Deepak Kumar on a commission basis. Investigations revealed that Ankit’s accounts were used for transactions totaling Rs. 6 crores across 23 cases throughout India. The accused operated as part of an organized group, cheating people by promising profitable stock trades. Authorities have initiated a Lookout Circular (LOC) against Deepak Kumar.
During the investigation, the police seized a mobile phone, two SIM cards, a passbook, and 11 debit cards from various bank accounts connected to the fraud.
The case was investigated by the team led by K. Prasada Rao, Inspector of Police, along with team members PV Srinivas (HC), A. Sathish, S. Srinivasa Reddy, G. Kranthi, G. Rakesh, D. Shekhar, and J. Venkatesh, under the supervision of R.G Siva Maruthi, ACP, Cyber Crime PS, Hyderabad.
Public Advisory:
Authorities have warned the public about fake investment schemes operating on social media platforms like Telegram, WhatsApp, X, Instagram, and Facebook. These scammers often promise high returns with little risk and use fake profit screenshots to lure victims.
The public is advised to avoid falling for these scams. Always use SEBI-approved apps for investments and consult a SEBI-registered financial advisor before making any financial decisions.
If you are a victim of cybercrime fraud, report the incident by calling 1930 or visiting cybercrime.gov.in.
