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The Cyber Crime Unit of the Hyderabad Police has arrested 41-year-old Pakeer Srinivas Reddy for allegedly orchestrating a stock trading scam that defrauded a victim of over Rs2 crore.
According to officials, Reddy, a resident of Tilaknagar in Hyderabad, is not a first-time offender. Investigations have revealed his involvement in at least five similar fraudulent schemes across different parts of India.
The police noted that Reddy used deceptive investment promises to lure his victims, ultimately leading to substantial financial losses. Authorities are continuing their probe and suspect more victims may come forward in the coming days.
