Two held for online trading fraud

Two youngsters from Madhya Pradesh were arrested by Hyderabad Cyber Crime police in connection with online trading fraud.

The accused, Rajat Patheriya (26) and Ashwin Bagdare (27) from Indore, along with a few others hatched a plan to cheat the people on the pretext of online trading.

Accordingly, they opened several bank accounts in different names across Madhya Pradesh and contact the people in the guise of online trading and offer huge profits, Joint Commissioner of Police (Detective Department) Gajarao Bhupal said. “Falling into their trap, people transferred huge money to the bank accounts of the accused, and the latter duped them,” he said.

A woman from Hyderabad too was trapped and cheated for ₹1.20 crore by this gang. Based on her complaint, a case was registered in March last, and the accused were arrested recently.

Police seized three mobile phones, several debit and credit cards of HDFC, RBL and AXIS Banks, and ₹1.02 lakh in cash.

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