Two individuals involved in a massive Rs8.14 crore stock trading scam were arrested by the Telangana Cyber Security Bureau (TGCSB) on Sunday. The accused, Rahul Dangi (21) and Rahul Bhoi (25), were traced to Udaipur, Rajasthan, and have since been brought to Hyderabad for further questioning and investigation.
The scam came to light on October 21, when a resident of Banjara Hills in Hyderabad filed a complaint. The victim claimed to have been lured into a WhatsApp group centered around trading and investments. The scammers convinced him to invest in block trades and Initial Public Offerings (IPOs) via a fraudulent application. Over the span of three months, the victim transferred a staggering Rs8.14 crore into accounts associated with the scam.
Authorities are continuing their investigation to uncover the full extent of the fraud and identify any additional victims. The case highlights the growing risks of online investment scams, particularly those conducted through social media platforms.