Two arrested in ₹2.29 crore investment fraud; one held for stalking

The Cyberabad cyber crime police arrested two persons involved in ₹2.29 crore institutional stock investment fraud.

Naresh Shinde, an account supplier, and Saurabh Shinde, account holder, to which the victim transferred ₹50 lakh, were arrested, while the police are looking for five persons who manage ‘Kotakpro’, the trading platform used for the operation.

This follows a complaint by a victim, a software engineer, on October 8. The victim joined a WhatsApp group named, B2231 KSL Official Stock, which promised to provide insights on stock market trading and skill building. On the suggestions of the fraudsters, the complainant registered on Kotakpro and transferred over ₹2.29 crore for ‘new IPO allotment’.

While the dashboard showed profits, the victim was unable to withdraw the amount. The suspects demanded additional payment under various pretences, which made the complainant suspicious.

The investigation revealed that the group has been operating a deceptive investment scheme through the WhatsApp group targeting several victims with promises of substantial profits. Further investigation is underway.

Stalker arrested

In a separate operation, the police arrested M. Ramakrishna, a resident of Guntur in Andhra Pradesh, who stalked and harassed women by sending their morphed photographs.

The arrest followed a complaint from a Hyderabad-based victim on October 22. She received a message on Telegram from an unknown user who accessed her photos from her Instagram account. He initially posed as a friend and eventually sent morphed inappropriate images of her. According to the officials, he even threatened to share the images with her friends and family and continued to harass her even after she ignored his messages.

Investigation revealed that Ramakrishna morphed images of multiple victims using various AI tools to create inappropriate content for stalking. He was traced through Telegram ID and arrested at Guntur.

The police have seized the mobile devices of the accused for analysis.

Published - November 06, 2024 08:29 pm IST