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Hyderabad: The Hyderabad cybercrime police arrested two investment fraudsters for duping a senior citizen from Tolichowki of Rs 74.36 lakh by promising him good profits in return.

According to police, Rushikesh Jaywant Kamble and Sohel Mohammad Sultan Shaikh contacted the 65-year-old victim from Tolichowki through WhatsApp, luring him to deposit large sums of money in a trading app, ‘Abott Wealth Management.’ Trusting them completely, the senior citizen invested his money, but later found the app was fake after he was blocked. He immediately registered a complaint with the Hyderabad cybercrime department.

During investigation, the cybercrime team discovered the two accused are involved in 38 cases across India, including three in Telangana,11 in Uttar Pradesh, three in Rajasthan, seven in Maharashtra, two each in Delhi, Gujarat, Karnataka and Jammu and Kashmir, one case each in Kerala, Tamil Nadu, Andhra pradesh and Punjab.

Kamble and Shaikh ran a well-organised fraud network. They opened multiple bank accounts, in their names and those of associates, to avoid detection and obscure the trail of transactions.

Kamble and Shaikh lured victims with false promises of lucrative investment opportunities.

Once the victims transferred funds, they used cheque books and internet banking credentials linked to those accounts to access and manipulate the funds.

Cyber Crime public advisory

• Fake Investment Frauds often appear as Links/receiving Calls/, through Whatsapp/Telegram Messages social media platforms, or Fake company websites.
• Victims may receive unsolicited calls, messages, or emails from scammers claiming to represent reputable companies.
• Scammers use professional language and tone, even show fake profits to build trust with victims.
• They create fake investment profits on fake websites/Applications and other portals to appear legitimate.
• Be cautious of unsolicited calls and messages: Stay wary of unexpected Investment offers or messages.
• Legitimate companies do not ask/approach directly to invest in their companies
• Victims of cybercrime can get immediate help by dial 1930 or visit cybercrime.gov.in.