In a major breakthrough, Cyberabad cybercrime police have arrested 7 persons from Visakhapatnam for allegedly cheating a man of Rs 95 lakh through a fraudulent online investment scheme. Police also seized Rs 26.57 lakh in cash, froze bank accounts containing Rs 12 lakh, and obtained court orders to refund Rs 9 lakh to the victim.
The case was registered after the victim filed a complaint stating that he had been duped through a fake online trading and investment platform operating under the name “Elera Capital Desk.”
According to the police, the accused attracted the victim through WhatsApp groups and other online channels by promising high returns. The victim initially invested Rs 46 lakh. To gain his trust, the fraudsters showed a fake profit of Rs 2.04 crore in his trading account.
When the victim tried to withdraw the amount, the accused allegedly demanded additional payments in the name of taxes, security deposits, processing charges and other fees. Believing the claims, the victim transferred another Rs 49 lakh.
In total, the victim lost Rs 95 lakh before realising that he had been cheated. He later approached the Cyberabad cybercrime police, who launched an investigation into the matter.
During the probe, investigators discovered that the fraud proceeds had been routed through 45 layered mule bank accounts to hide the movement of money and make tracing difficult.
The 7 accused were eventually tracked down and arrested in Visakhapatnam. Further investigation is underway.
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