Hyderabad Police Nab Cyber Fraudster Linked to Nationwide Investment Scam

Hyderabad's Cyber Crime Unit arrested Gujarat's Vyas Rutvik Smital Kumar for involvement in digital fraud across India. The accused, engaged in bogus stock market schemes, lured victims via social media. Police warn against unsolicited investment offers, stressing due diligence before disclosing financial details.

The Cyber Crime Unit in Hyderabad has made a significant arrest, capturing a suspect involved in a sprawling digital fraud operation. Officials confirmed the apprehension of Vyas Rutvik Smital Kumar from Ahmedabad, Gujarat, linked to over 80 fraud cases nationwide, including 11 in Telangana.

The accused reportedly collaborated with scammers presenting as Motilal Oswal Securities Ltd representatives. They deceived victims with promises of high returns through 'Block Trading' in the stock market, directing them to download falsified apps and transfer funds to shady accounts.

Victims deposited Rs9,56,000, only to find the app and schemes were fraudulent. Despite initial fake profits, the scammers demanded more money, halting withdrawals entirely. The Hyderabad police, led by Inspector K Madhusudan Rao, have warned citizens about investment frauds, urging caution and verification of all investment opportunities presented online.

(With inputs from agencies.)