In a significant breakthrough, the Telangana Cyber Security Bureau (TGCSB) has arrested Mohammed Shoeb Tauqeer (34) and Mahmood Bin Ahmed Bawazir (49) for their involvement in a massive Rs175 crore online fraud. The arrests took place on August 24, following a suo motu complaint filed by the Cyber Security Bureau itself after uncovering evidence of the scam.
The two accused were apprehended based on a meticulous investigation into their activities, which involved complex cybercrimes and fraudulent online transactions. The Rs175 crore scam was carried out through fraudulent online schemes, involving fake investments, and was designed to deceive victims into parting with large sums of money.
According to the Telangana Cyber Security Bureau, the fraud was orchestrated through multiple online platforms where the accused convinced individuals and businesses to invest in various schemes that promised substantial returns. Victims were misled into believing they were participating in legitimate financial opportunities, but instead, the funds were siphoned off by the perpetrators.
The arrest of Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir marks a significant step in dismantling the cybercrime network behind the Rs175 crore fraud. Both individuals are believed to be key players in the operation, and their arrests are expected to provide further insights into the scope of the scam and the larger criminal network involved.