Hyderabad: Cyber Crime Police Bust Racket for Trading Fraud; Case Registered, Probe on

Hyderabad Cyber Crime Police on April 26 arrested Ronak Tanna (35) from South Goa and served notices to Judith Gonsalves and Sana Mohammed Qureshi for defrauding people in the name of high returns by investing in the stock market.

Hyderabad (Telangana): Hyderabad Cyber Crime Police on April 26 arrested a person and served notices to two others for in defrauding people in the name of high returns by investing in the stock market. Police seized two laptops, six mobile phones, five cheque books, six mobile SIM cards and 15 debit cards of different banks.

Police arrested Ronak Tanna (35), son of Jayendra Tanna from South Goa, and served notices to Judith Gonsalves from Mumbai and Sana Mohammed Qureshi, daughter of Late Mohammed Faiz Qureshi in this case.

A case was registered under sections 66 C,D (Punishment for identity theft.) of the ITA Act and 419 (Punishment for cheating by personation), 420 (Cheating and dishonestly inducing delivery of property) of the Indian Penal Code.

Police received complaint from a resident in Hyderabad stating that Tanna contacted her and insisted on investing in stock market with 100 per cent high returns on company named UNITY STOCKS. Tanna said that if the victim invested maximum money and held it for six months, she would get a minimum of 30 per cent returns of the invested amount.

The complainant believed his version and invested an amount of Rs 3,16,34,764 into the bank accounts which were provided by the accused only to realise later that she had been cheated big time.

Police said, Tanna is colluded with Dubai nationals for easy gains by supplying bank accounts. After collecting the bank accounts, he supplied them to his partners, Arjun, Yug and Nitin in Dubai. He charged Rs.1,00,000/- to 2,00,000/ as commission for each account, police sad.

After receiving the commission amount from main accused, the Tanna, Gonsalves and Qureshi distributed money among themselves. Police also came to know that the accused had supplied over 95 accounts to Dubai through Arjun and Yug and 83 cases were registered across the country in different states against these 95 accounts.

The team headed by Inspector of Police Ch Gangadhar under the supervision of AV Ranganath, Joint Commissioner of Police, Crimes & SIT, D Kavitha, DCP, Cyber Crimes, RG Siva Maruthi, ACP, Cyber Crime PS, Hyderabad cracked the case at Goa and Mumbai.