Hyderabad Cyber Crime Police arrest two in ₹12.3 lakh online trading scam
HYDERABAD: Cyber Crime Police arrested two alleged fraudsters from Vashi, Navi Mumbai, for their role in a ₹12,30,000 online trading scam, registered as Crime No. 1663/2025 under Sections 66C and 66D of the Information Technology Act and Sections 318(4), 319(2), 336(3), 338 and 340(2) of the Bharatiya Nyaya Sanhita.
Police identified the accused as A1 Ravi Kumar Lal, 38, a real-estate businessman originally from East Delhi and currently living in Vashi, and A2 Shivendra Ashok Singh, 32, a businessman from Vashi. Officers said both are connected to 12 cyber-fraud cases across the country, including two in Telangana.
Scammers ran mule accounts, shared OTPs with absconding associate
Investigators said A2 opened and supplied mule bank accounts to A1, who then operated them by sharing one-time passwords with an absconding associate, identified as Viraj of Pune, through an APK file. Police said these accounts were used to route funds collected from victims.
Officers seized four mobile phones and three cheque books from the arrested pair.
Hyderabad man lost ₹12.3 lakh after fake ‘profits’ shown
According to police, a 53-year-old Hyderabad resident was cheated after scammers impersonated investment advisers on WhatsApp. They used the names Flames Alliance and Munoth Capital Investment Limited (fake) and directed the victim to a fraudulent trading website, AEGIS (“http://aegiscapcorp.vip/stock”).
The gang displayed fake profits and permitted small withdrawals initially to build trust. Between August 13 and 28, 2025, they collected funds from the victim and then blocked all communication.
Police advisory to public
Cyber Crime Police urged citizens to stay cautious about online trading schemes promising unusually high returns.
“People should not share personal or banking information with unknown individuals and must never allow their bank accounts to be used by others,” an officer said.
Victims of cybercrime have been asked to call 1930 or report incidents on https://cybercrime.gov.in.
