Crime Hyderabad

Hyderabad police arrest two in online investment fraud case

Accused In Online Investment Fraud Case

HYDERABAD: Combating fraudulent activities, Cyber Crime Police of Hyderabad, on Thursday, arrested two individuals involved in an online investment fraud scheme. The arrested suspects, identified as Noushad CH and Ahammed Kabeer CH, stand accused of creating fake bank accounts to transfer ill-gotten money. The duo allegedly deceived the complainant under the pretence of lucrative investments promising high returns.

In the month of January, the victim reported being contacted by the accused through Telegram, offering a part-time job. Subsequently, the fraudsters sent a link and instructed the victim to perform tasks such as providing 5-star ratings, comments, and likes to international companies. These actions were purportedly rewarded with direct deposits into the victim’s account, leading the victim to believe in the legitimacy of the scheme. However, the promised returns were never delivered, resulting in the victim’s loss of Rs. 9,44,492/-.

Following the investigation, Cyber Crime Police registered a case under Cr. No. 109/2024 and arrested Noushad CH and Ahammed Kabeer CH, both residents of Kasargod, Kerala. The accused individuals were identified as account suppliers who collaborated with other absconding suspects, Issac and Tahir Ali from Kerala, to carry out the fraud. Utilising fake KYCs, the accused created fraudulent accounts to transfer and subsequently withdraw the fraudulently obtained funds. Noushad CH further transferred the defrauded money to associates’ accounts before fleeing to Dubai, where the funds were converted from INR to USDT through crypto exchange platforms. The investigation revealed that the accused supplied a total of 18 accounts, with approximately 26 crores involved in fraudulent transactions through these accounts.

During the arrests, authorities seized the evidence, including five mobile phones, 15 chequebooks, eight debit cards, and two fake rubber stamps from Noushad CH and Ahammed Kabeer CH. The operation was conducted by a team led by Smt. A. Uma, K. Raj Kumar ASI, Ch. Suntl Kumar PC 9654, Sri B. Naresh Goud PC 1693, MG Sudharshan ARPC 10645, Sri. P. Ashok Kumar PC 30713, M. Ganesh PC 30003, Sri P. Sainath, PC 7032, and Smt D. Meena WPC12830 under the supervision of Sri. R.G Siva Maruthi, ACP, Cyber Crime PS, Hyderabad.

Authorities caution the public against believing unknown individuals on social media platforms such as Telegram, WhatsApp, Instagram, and Facebook offering high returns on investments or task-based investment opportunities. They advise against investing through unauthorised websites or other means promising high returns with minimal investment, emphasising the importance of vigilance and due diligence in financial transactions.