Hyderabad Police Bust Rs 900cr Investment Fraud Racket, 10 Held

Hyderabad cybercrime police on Wednesday arrested 10 persons including two chinese nationals for their involvement in Rs 900 crore investment fraud.

The cybercrime police conducted raids on a few call centres operated from Delhi and other places, and managed to break the network of the fake investment companies that have been duping investors through mobile applications.

The accused were luring the investors from call centres, using bank accounts of hundreds of people by paying them commission.

“According to the estimates, the magnitude of the scam is around ₹900 crore. The police are questioning them to ascertain more details about the scam, and suspect many more persons are involved in the fraud in which thousands of people were duped,” the police official said. 

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