Who Are the Latest Arrested in the Hyderabad Investment Fraud Case?
Click to start listening
Synopsis
In a significant crackdown, three more individuals have been apprehended in a fraudulent investment scheme in Hyderabad, leading to a shocking loss of over Rs 3 crore for the victim. Discover the details of how this elaborate scam unfolded and the ongoing investigation into its international links.
Key Takeaways
- Three new suspects arrested in the Hyderabad investment fraud case.
- The victim lost over Rs 3 crore due to deceptive tactics.
- Fraudsters used WhatsApp and other social media platforms for recruitment.
- Investigation is ongoing to trace international links.
- Public awareness is essential to avoid falling prey to such scams.
Hyderabad, July 20 (NationPress) The Telangana Cyber Security Bureau (TGCSB) has apprehended three additional suspects in a fraudulent investment scheme where the victim incurred a loss exceeding Rs 3 crore.
The arrested individuals include Md Raziuddin, a private employee, Md Waliullah, a nursing student, and Mohd. Zubair Khan, a computer operator, all hailing from Hyderabad. TGCSB reports that Waliullah is originally from Bihar.
According to TGCSB Director Shikha Goel, Sai Amarnath, a photographer, was previously detained in relation to this case.
Amarnath had established a current account in 2021 under the name of Cam Zoom Services and shared his banking information with the fraudsters to facilitate the transfer of illicit gains. He is also implicated in 14 additional crimes across various states.
On July 11, the victim submitted a complaint regarding his investment deception.
Investigations uncovered that the victim received a WhatsApp message from ‘Bajaj Fin Securities Ltd’, which included an invitation link. After clicking the link, he joined a WhatsApp group providing consistent updates on market trends, block trades, and IPOs.
Influenced by the group admin, Purav Jhaveri, and his assistant, Prisha Singh, the victim downloaded an app named ‘Bajaj Financial Securities Limited’ through the link provided. They urged him to invest in block trading and IPOs, assuring him of guaranteed allotments and substantial returns. Trusting their advice, the victim transferred Rs 3,24,85,000 between May 30 and July 9, 2025.
He managed to withdraw Rs 5,00,000 once on June 20; however, when he attempted another withdrawal on July 8, the transaction appeared successful, yet no funds were credited to his account. Upon contacting customer support, he was instructed to pay an additional 15 percent to access his money. Realizing it was a scam, he filed a complaint.
The case is registered under sections 318 (4), 319 (2), 338 of BNS and section 66-D of the IT Act 2000-2008.
The other suspects, Prisha Singh and Purav Jhaveri, who initially approached the victim via the WhatsApp group, are believed to be located in Cambodia. An investigation is ongoing to uncover their true identities and whereabouts, stated Shikha Goel.
She noted that the fraud is likely originating from abroad, with the primary culprits operating internationally while using WhatsApp numbers linked to India to lure victims with promises of high returns. Victims are drawn to these offers and follow the fraudsters' instructions, transferring funds into bank accounts provided by the scammers.
These accounts are reportedly opened by some Indians in exchange for commissions. The fraudsters entice Indians through various social media platforms like Telegram.
Md Raziuddin, a recent B.Tech graduate, sought quick financial gains and discovered a Telegram group, allegedly run by Chinese nationals, that promised high commissions for converting cash into cryptocurrency.
He was approached with an offer of Rs 1.5 lakh per account and persuaded his friends Waliullah and Zubair to establish bank accounts. Waliullah opened one account, while Zubair set up five after receiving Rs 95,000 from Raziuddin. A total of Rs 15 lakh was credited to Waliullah’s account, of which Rs 7.5 lakh is tied to the victim’s case. Raziuddin managed Waliullah’s account, withdrew funds via cheques, converted them into USDT, and stored them in a Binance crypto wallet.
Point of View
It's crucial to emphasize the rising threat of investment fraud schemes, especially those that exploit the digital landscape. This incident underscores the need for greater vigilance and awareness among potential investors. Our commitment at NationPress is to keep the public informed and educated about such risks, ensuring that our readers are equipped to recognize and avoid these scams.
NationPress
20/07/2025
Frequently Asked Questions
What is the investment fraud case in Hyderabad about?
The case involves multiple arrests linked to a fraudulent scheme where the victim lost over Rs 3 crore, with suspects using deceptive tactics to lure individuals into investing.
How did the fraudsters operate?
The fraudsters used a WhatsApp group to share market updates and lured the victim into investing through fake promises of high returns from block trades and IPOs.
What actions have been taken by the authorities?
The Telangana Cyber Security Bureau has arrested three new suspects and is investigating their connections to other potential fraud cases, including international links.
What should individuals do to avoid investment scams?
Individuals should exercise caution, verify investment opportunities, and be skeptical of offers that promise unrealistic returns, especially from unverified sources.
Are there more suspects involved in this case?
Yes, other suspects are being investigated, and some are believed to be operating from abroad, complicating the pursuit of justice.
