The Hyderabad Cyber Crime Police recently arrested two individuals, Naresh Shinde and Saurabh Shinde, in connection with a major stock investment fraud amounting to Rs2.29 crore. The duo was involved in a scam where the victim transferred Rs50 lakh to an account held by Saurabh Shinde, who, along with Naresh Shinde, operated fraudulent transactions through the trading platform Kotakpro.
According to the police, Naresh Shinde, an account supplier, and Saurabh Shinde, the account holder, lured the victim into transferring large sums of money with the promise of high returns on stock investments. However, the investment turned out to be a scam, and the victim lost a significant amount of money.
While the two men have been arrested, the police are actively searching for five other individuals who allegedly manage Kotakpro, the platform used in the fraudulent scheme.
The investigation into the case is ongoing, and the authorities are working to uncover the full scope of the fraud and bring all involved parties to justice.