The Cyber Crimes team of Hyderabad City Police arrested a 38-year-old private employee from Uttar Pradesh in connection with a large-scale trading fraud.
The accused is linked to 23 cases across India and has been involved in fraudulent financial transactions amounting to ₹6 crore.
A case was registered against Ankit Arora following a complaint from a Secunderabad resident who alleged that cyber fraudsters contacted him via Telegram and lured him into investing in stock trading with promises of free trading tips and high profits.
“The victim was directed to use trading applications controlled by the fraudsters, leading him to invest ₹1,22,87,120. When he attempted to withdraw his funds, the fraudsters denied his request, citing various reasons and demanding further deposits. Upon his refusal, all communication ceased, and his user ID was blocked,” said the police.
Investigations revealed that Ankit Arora supplied bank accounts to Deepak Kumar, the prime accused, who is currently absconding in Thailand. Arora operated on a commission basis, facilitating fraudulent transactions. Authorities have initiated a Lookout Circular (LOC) against Deepak Kumar.
The police seized a mobile phone, two SIM cards, a bank passbook, and eleven debit cards linked to different bank accounts from the accused.
Cybercrime officials have urged citizens to remain vigilant against fraudulent investment schemes on social media platforms such as Telegram, WhatsApp, Instagram, and X. They advised investors to only use SEBI-approved applications and consult registered financial advisers before investing.
Published - March 22, 2025 08:34 pm IST
