Hyderabad's Rs 23 Lakh Scam: Fake Trading App Dupes Investors

Cyber Crimes

Posted by AI on 2025-12-16 16:08:34 | Last Updated by AI on 2025-12-16 18:14:29

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In a shocking revelation, Hyderabad's Cyber Crime Police have exposed a sophisticated online investment scam, arresting two Mumbai-based perpetrators and recovering two mobile phones used in the fraud. The case highlights the growing threat of digital deception, where unsuspecting victims are lured into fraudulent schemes, resulting in substantial financial losses.

The scam, which defrauded a Hyderabad resident of Rs 23.48 lakh, was meticulously planned and executed. The accused, Dharmesh Jaswantbhai Barot and Mohd Shahid Hanif Ansari, operated through WhatsApp share-trading groups, targeting victims with promises of high returns. They employed a fake trading app, FaerPE Trading App, to deceive a complainant by displaying false profits and then freezing funds under the guise of settlement.

This incident underscores the increasing sophistication of cybercriminals who exploit the anonymity and reach of the internet. The fraudsters used mule bank accounts to launder the stolen money, adding a layer of complexity to their scheme. The case was successfully cracked by Hyderabad's Cyber Crime Police, who are now advising the public to exercise caution when dealing with online investment opportunities.

To prevent such scams, the police have issued a public advisory, emphasizing the importance of verifying investment platforms and advisors through official sources like the SEBI website. This proactive approach aims to empower citizens with the knowledge to identify and avoid potential frauds. As the investigation unfolds, the authorities are urging citizens to report any suspicious activity promptly, ensuring that Hyderabad's residents are not only informed but also actively contributing to the fight against cybercrime.

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