In a major breakthrough, the Cyber Crime Police Station (CCPS) of the Telangana Cyber Security Bureau (TGCSB) arrested four individuals on September 17 for their involvement in a large-scale business investment fraud that caused a loss of over Rs4.87 crore to a Hyderabad resident.
The accused were identified as:
Mohd Mohinuddin Shaik (29), a cab driver from Jagadgirigutta
Chinnam Ugra Narsimhulu (29), a driver from Kukatpally
Pasupuleti Rajesh (27), a cab driver from Jagadgirigutta
Shiva Reddy (33), an account supplier from Kadapa, currently residing in Ameerpet
According to the officials, the gang orchestrated a fake business investment scheme and lured the victim with promises of high returns. After extracting Rs4.87 crore from the victim, they cut off contact and began laundering the funds.
During the arrest, police seized:
10 mobile phones
10 bank passbooks
2 cheque books
10 debit and credit cards
Authorities said the investigation is ongoing and more arrests may follow as they trace the money trail and uncover potential accomplices.
