The Hyderabad Cyber Crime Unit has apprehended Vyas Rutvik Smital Kumar (26), a resident of Ahmedabad, in connection with a significant digital arrest fraud case. Kumar, who has been involved in over 80 fraud cases across India, including 11 cases in Telangana, was arrested on Monday.
Kumar is accused of being part of a larger fraud operation involving Shivangi Sarda and Gautham Duggad, who posed as representatives of Motilal Oswal Securities Ltd. They lured victims with promises of high daily profits through “Block Trading” in the stock market. Victims, including a complainant and his daughter, were instructed to download a fake app, join a WhatsApp group, and transfer funds to a third-party bank account.
The victims deposited Rs 9,56,000 but later discovered the app was fraudulent after verifying with Motilal Oswal’s Hyderabad branch. The scammers falsely claimed that the funds had been invested in IPOs and Block Trading and demanded additional payments.
The fraudsters used social media platforms like Telegram, WhatsApp, and others to reach potential victims, promising substantial returns from stock market investments in a short period. Initially, they allowed small withdrawals to gain the victims’ trust before stopping all withdrawals and trapping the funds.
The Hyderabad Cyber Crime Unit team, led by Inspector K Madhusudan Rao, made the arrest. The police have seized the scammers’ phones, and investigations are continuing. The police have also issued a public advisory about the dangers of online investment frauds, stressing the importance of verifying investment offers before sharing personal and financial information.
