“Hyderabad Cyber Crime Police Arrests Five Accused in Trading Fraud Case | Victim Loses Rs 3.16 Crore”

Hyderabad: The Hyderabad Cyber Crime Police have successfully apprehended five individuals involved in a trading fraud case. These individuals deceived the complainant, promising high returns through investments in the stock market.

The five accused have been identified as Swayam Timaniya, Meet Timaniya, Brijesh Patel, Harsh Pandya, and Shankar Lal.

According to the Hyderabad police, the complainant, a resident of Hyderabad, lodged a complaint in November 2023. She stated that the accused individuals contacted her, enticing her with the prospect of investing in the stock market through a company called UNITY STOCKS. They assured her of a 100% return on investment and instructed her to deposit the funds into various stock market and gaming websites, such as Dafabet, Unity Exchange, T20 IPL, etc. The accused claimed that if she invested a significant amount and held it for six months, she would receive a minimum of 30% returns on the invested sum.

Falling for their deceptive tactics, the complainant transferred a staggering amount of Rs 3,16,34,764 into the bank accounts provided by the accused individuals.

“The Cyber Crime Police in Hyderabad registered a case (Cr. No. 2495/2023) and initiated an investigation,” stated the police officials.

During the course of the investigation, they arrested Ronak Tanna, an account supplier, on December 31, 2023. Subsequently, it was discovered that the fraudulently obtained money was being funneled through Indian accounts and then transferred via Angadia (Hawala). As a result, all five accused individuals, who assisted the main perpetrators Arjun and Yug in converting the ill-gotten funds using hawala, were apprehended in Ahmedabad and Gandhi Nagar, Gujarat.

The police confiscated a net cash amount of Rs eight Lakhs, along with one laptop and 12 mobile phones from the possession of the arrested individuals.

Hyderabad Police Nabs Five Accused Involved in Stock Market Fraud

In a major breakthrough, the Hyderabad Cyber Crime Police successfully apprehended five individuals who were part of a trading fraud scheme. The accused had duped the complainant, promising exorbitant returns on investments made in the stock market. The recently arrested individuals have been identified as Swayam Timaniya, Meet Timaniya, Brijesh Patel, Harsh Pandya, and Shankar Lal.

Fraudulent Scheme Targeted Innocent Investor

The investigation revealed that the complainant, a resident of Hyderabad, fell victim to the fraudulent scheme in November 2023. The accused contacted her, posing as stock market experts, and lured her into investing in UNITY STOCKS, a company that guaranteed 100% returns. To ensure the success of their scam, the accused coerced the victim into depositing her funds into various stock market and gaming websites, including Dafabet, Unity Exchange, and T20 IPL. The fraudsters claimed that by making substantial investments and holding them for six months, the victim would receive a minimum return of 30% on her investment.

A Massive Sum Lost to Deception

Trusting the false promises made by the fraudsters, the complainant transferred a staggering amount of Rs 3,16,34,764 into the bank accounts provided by the accused. However, she soon realized that she had been deceived and promptly reported the incident to the Hyderabad Cyber Crime Police.

Investigation and Arrests

The Hyderabad Cyber Crime Police swiftly registered a case (Cr. No. 2495/2023) and launched a thorough investigation. Their efforts bore fruit when they successfully apprehended Ronak Tanna, an account supplier, on December 31, 2023. Further investigations revealed that the fraudulently obtained funds were being routed through Indian accounts and then transferred using the hawala system. Consequently, all five individuals who played a role in facilitating the conversion of the ill-gotten money through hawala were arrested in Ahmedabad and Gandhi Nagar, Gujarat.

Seizure of Assets

During the arrests, the police seized a substantial amount of evidence, including Rs eight Lakhs in cash, one laptop, and 12 mobile phones. These assets will be crucial in building a strong case against the accused individuals.

The Hyderabad Cyber Crime Police have once again demonstrated their commitment to combating fraudulent activities and protecting innocent investors from falling prey to such scams. The arrests of these individuals serve as a stern warning to others who seek to engage in illegal practices within the stock market.

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