The Hyderabad Cyber Crime Police have arrested Sarath E.S. and Yadhu Krishnan T.B. from Ernakulam, Kerala, for allegedly defrauding a victim of Rs57.66 lakh in a fake investment scam. The two accused posed as representatives of Allianz Global Investor, a reputed investment firm, and manipulated the victim into investing large sums of money.
According to the police, Sarath and Yadhu lured the victim with promises of stock tips and fake IPO opportunities. They convinced the victim to invest, claiming the potential for high returns. However, after the victim transferred the funds, the accused began imposing exorbitant taxes on the investments and later blocked the victim’s ability to withdraw the money.
After the victim grew suspicious and reported the fraud, the Cyber Crime Police launched an investigation and arrested the accused. They were taken into custody and are currently being questioned. The police have seized several documents and digital evidence related to the scam.
The investigation is ongoing, and authorities are looking into whether the accused have been involved in similar fraudulent activities across other regions.
