Hyderabad businessman was scammed of Rs 1.22 crores through a fake online trading scheme. Police arrested Ankit Arora, while the main accused, Deepak Kumar, remains at large.

Hyderabad: After being tricked into investing in an internet trading company that promised enormous earnings, a Hyderabad businessman lost Rs 1.22 crores to cyber criminals.

The victim, a resident of Secunderabad, received a message on Telegram ID Doll6726@Navyaand from a stranger who lured him to invest in online trading over time. He assured me that the profits would be huge and asked him to download an application on his mobile phone. Initially, the person invested some amount for investment and in return received some profits on the investment.

After businessman being mesmerized by the profits, the man sent Rs 1, 22, 87,120 to the account that the stranger, who claimed to be Deepak Kumar, had provided. After a few weeks, Deepak failed to withdraw the winnings from the victim’s wallet and asked him to transfer more money.

He became suspicious and filed a report with the police. Based on the evidence they gathered, police were able to hold on to Ankit Arora, a 38-year-old native of Uttar Pradesh who had provided Deepak Kumar with his bank account credentials.

Under the guise of internet trading, Deepak was able to defraud a Hyderabad man out of Rs 1, 22, 87,120 using the bank account details. Ankit Arora’s bank account received the money from the victim, and Deepak subsequently moved it to other accounts. Cybercrime police officials claimed that Deepak had given Ankit a commission.

After learning that Deepak operates out of Thailand, the police will issue a Look Out Circular (LoC) for him.