Telangana News Desk !!! Online fraudsters have defrauded an elderly man of Rs 13 crore on the pretext of investing in the stock market. The Telangana Cyber Security Bureau said on Wednesday that three people have been arrested in the case of cheating the elderly. The elderly has lodged a complaint in the case on Monday. According to the complaint lodged with the police, a retired employee of Hyderabad was sent a link to stock market trading related tips on WhatsApp by the fraudsters. The elderly victim of the fraud already had experience of investing in the stock market and had also made profits from it. The elderly replied to the message of the fraudster.
After this, the fraudsters sent him a link with the names of many big companies like AFSL, Upstox and International Brokers and also added the elderly victim to a WhatsApp group. The elderly victim did not take notice of the links being associated with the names of big companies. The fraudsters, posing as representatives of well-known companies, gave stock market advice to the elderly people and prepared them for investment. The elderly person did not realize that the links he clicked on were links to fake websites and apps.
Initially, the fraudsters showed the elderly a small profit and also allowed them to withdraw money to gain their trust. As soon as the trust was established, the elderly transferred Rs 13 crore in one go. And after that, the fraudsters stopped responding to them. Then they realized that they had been duped.
8.6 crore fraud case
Earlier, cyber thugs had defrauded a person in Hyderabad of Rs 8.6 crore. During an investigation in August, the Telangana Cyber Security Bureau found that a part of the money was transferred to a bank account in the name of 25-year-old Mohammed Athirpasha. Athirpasha is employed in Hyderabad Metro Rail. During interrogation, the police came to know that two more people are involved in this case. These include Arafat Khalid Mohiuddin (25) of Himayatnagar and Syed Khaja Hashimuddin (24) of Charminar Fateh Darwaza area.
Athirpasha admitted that Arafat and Syed Khana had opened a mule account in his name. This account was used by both of them to withdraw and send money fraudulently. According to Athirpasha, the main accused in the case, who deals in cryptocurrency, had contacted him online. During contact with Athirpasha, the main accused demanded a mule account.
Money was withdrawn from Athirpasha’s account. It was converted into cryptocurrency and then sent to the main accused. The main accused in this case has not been identified yet. The cyber security team has arrested Athirpasha, Arafat and Syed Khaja. The investigation into the case is ongoing.