Hyderabad police have arrested four people for forgery of around seven crore rupees by exposing a gang that is trying to get people to invest through the online investment. These four are accused of defrauding about two and a half thousand people from Andhra Pradesh and Telangana.
According to the police, these accused set up a website and its mobile app. In this, putting a picture of foreigners, he was called a director and a member of the team. The website showed the headquarters of this multinational company in the UK. This website used to be invested by innocent people. The accused used to talk online through two UK numbers and used to trick people into getting huge returns in investment.
To invest, one had to register as a member and deposit five installments ranging from ten thousand to one lakh rupees. They were lured to pay a commission of 5% of the amount invested daily for the next 60 days. On adding another member, this commission used to be 10 percent. According to the police, some investors were also given commissions but a large number of people lost their money.
These people ran this company from July to September this year and then later discontinued it. An FIR was registered by the police in October on a complaint by a Hyderabad-based investor. After investigation, the four accused were identified and arrested from Visakhapatnam.