Hyderabad Cyber Crime Police have arrested a Mumbai-based youth for orchestrating an online trading scam with direct links to a Chinese national, cheating a Hyderabad investor of Rs32 lakh.
The accused, 21-year-old Ansari Mohammed Umar Murad, also known as Umar, posed as part of a fake investment network that misused the name of the Aditya Birla Group to gain credibility. Victims were targeted through social media advertisements and later drawn into WhatsApp groups operated by bogus “trade advisors.”
According to police, investors were persuaded to trade through fake mobile applications and websites that displayed fabricated profits from stocks and IPOs, creating the illusion of high returns.
Investigations revealed that Umar was in direct contact with a Chinese handler via Telegram. Acting on the handler’s instructions, the defrauded money was converted into cryptocurrency (USDT) and transferred to crypto wallets provided by the Chinese national. Police estimate that nearly Rs50 lakh was routed through crypto dealers and digital wallets as part of the scam.
Earlier, two other accused — Rishi Thushar Arothe from Gujarat and Inamdar Vinayaka Rajendar — were arrested in connection with the same case.
Authorities stated that the gang is linked to at least 12 cyber fraud cases across eight states, including Telangana, Maharashtra, Karnataka and Kerala.
During the arrest, police seized mobile phones and a laptop containing Telegram conversations and cryptocurrency transaction records linked to the Chinese operator. Investigators also found that bank accounts were procured on a commission basis to launder the fraudulent funds.
Further investigation is underway to identify additional victims and international links in the scam network.
