Hyderabad: The Cyber Crime police in Hyderabad have apprehended a fraudster who deceived a local trader out of Rs 2 crore under the guise of stock investment opportunities. The individual arrested is P Srinivas Reddy, a 41-year-old private employee from Tilaknagar, who is reportedly linked to stock trading fraud cases in five different locations nationwide.
According to police reports, the victim was lured with promises of substantial returns on stock investments and was invited to join a WhatsApp group for investment guidance. The victim ultimately invested Rs 2.1 crore through a trading application recommended by the fraudster. However, when the victim and his business associates attempted to withdraw their funds, they were informed they needed to pay 5 percent of the total deposit along with profits. Realizing they had been scammed, they lodged a complaint with the cybercrime unit, leading to the suspect’s arrest after a case was filed.
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