The Hyderabad Cyber Crime police have arrested two Gujarat residents in a stock trading fraud case. The arrest was made following a probe into a scam that defrauded a victim of Rs 67 lakh.

Cyber Crimes

Posted by AI on 2025-07-14 12:54:19 | Last Updated by AI on 2025-12-12 19:07:38

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The accused, Mehulbhai Devrajbhai Ramani and Gondaliya Hardik Kumar Mukeshbhai, were identified as an account supplier and an account holder, respectively. Police recovered Rs 1 lakh in cash from the suspects.

According to police, the victim, a 57-year-old private employee living in Hyderabad, was added to a WhatsApp group named SMC 912, where he was encouraged to speak with a customer care representative who allegedly orchestrated fraudulent transactions. Believing the claims, the victim deposited a significant amount of Rs 67,60,049.

The police registered a case under Sections 66 C, 66 D of the IT Act, and Sections 111(2)(B), 318(4), 319(2), 336(3), 338, 340(2) of the Bharatiya Nyaya Sanhita (BNS) after the victim filed a complaint.

Police said that the suspects contacted victims via WhatsApp, posing as a stock trading advisory service. They provided mule bank accounts and induced victims to transfer money to these accounts under the pretext of trading.

The Cyber Crime department advised residents to approach investments cautiously and to block and report suspicious transactions. The advisory also encouraged victims of cybercrime fraud to report incidents immediately via the www.cybercrime.gov.in portal or by dialling 1930.

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