Two held in ₹3.79 lakh online investment scam

The Hyderabad Cybercrime Police arrested two men from Karimnagar and Nirmal for defrauding a 52-year-old woman of ₹3.79 lakh in an online investment scam.

The accused, identified as L. Anand Reddy and E. Laxma Reddy, lured the victim through a fake trading application by promising high returns on investment, said an officer from the cybercrime wing, adding that the woman, a resident of Troopbazaar, had filed a complaint after realising she had been conned.

According to the complaint, the victim came across a Facebook advertisement in May promoting a trading platform. Upon clicking the link, she was redirected to a WhatsApp group operated by individuals identifying themselves as Ashish Kehair and his assistant Kangana Sharma. Kangana Sharma contacted her persistently via phone and WhatsApp, convincing her that the platform was a secure and profitable investment channel.

“Investigation revealed that the scam operated by making initial contact through social media platforms such as WhatsApp and Telegram. The accused impersonated representatives of reputed companies and used professional language to gain the victim’s confidence. Fake trading applications and websites were used to show manipulated profits. Once money was transferred, the scammers blocked the victim and cut off all communication,” said the officer.

E. Laxma Reddy was the account holder through which the victim’s money was routed. L. Anand Reddy, meanwhile, played a key role in orchestrating the fraud by acquiring multiple bank accounts from local individuals, which were then used as mule accounts. These accounts, along with associated cheque books and internet banking credentials, were used to move and withdraw the stolen funds. The money was collected after inducing victims with fake investment offers.

Victims of cyber fraud are advised to dial 1930 or report incidents on cybercrime.gov.in for immediate assistance.