Hyderabad: Altogether nine cybercriminals from Mumbai, Lucknow, Gujarat and Hyderabad were arrested by the police. The fraudsters were running a racket claiming high profits or returns with low investment. At least 17 cell phones, two laptops, debit cards and others were seized from the accused. The police suspected that the arrested accused were operating from Hyderabad, Gujarat, Mumbai and Lucknow and they had links with criminals from China and Dubai.
The police were claiming the gang members have committed fraud to the tune of Rs. 712 crore across the country so far. The police have frozen the bank accounts wherein transactions to the tune of Rs. 10.50 crore had been done. Hyderabad Police Commissioner CV Anand said that a software employee from Hyderabad complained to the police on Friday that he was cheated of Rs 82 lakhs.
"It was known from the arrested accused that they had collected Rs 17 lakhs from another victim hailing from Chikkadapally. The fraudsters were luring gullible people through social media campaigns about the Radhika Marketing company. The gang was operating 61 bank accounts in the name of 33-dollar companies. These accused opened the bank accounts of several people in the city and deposited Rs 2 lakhs in each of them. During interrogation, it was also learnt that some Chinese nationals were also behind the racket. Li Lo, Nan Ye, and Kevin Jun from China are the main accused."
Explaining the people not to fall into such a vicious circle or trap, the Police Commissioner, "We are creating awareness among people about the cyber fraud. But, some innocent people are being deceived into believing such statements. Money does not always come easily. If money comes easily, it is a fraud. The gang has committed fraud to the tune of Rs 712 crore across the country in the name of investments."
The money was transferred to Dubai or China through various channels, including cryptocurrency. The money was being transferred to China through a crypto wallet called Hedge Bolla. It is being used by terror outfits for shady activities. We are investigating whether any money from the accused reached the hands of terrorists or not, said Anand.
