Archive · 24 Jul 2025
Hyderabad Police Arrests Man in Rs 6 Crore Investment Scam
Imagine some people promised to give you lots of money back if you invested with them.
This happened in Hyderabad, where a man named Nikhil was offering big returns.
He got money from people, but then stopped paying them back.
The police found out and arrested him.
They said he took around 6 crore rupees.
He promised returns through a company.
Now the police are trying to find the other person involved and asking others who lost money to come forward.
Nikhil Kumar Goel was arrested by the Economic Offences Wing (EOW) of Cyberabad police.
Goel is accused of defrauding investors of approximately Rs 6 crore.
He and an associate lured investors with promises of high returns through Fibwave Analytics LLP.
Payments stopped in May 2024, and the firm later vacated its premises.
A case has been registered under relevant sections, and searches were conducted.
- Who
- Nikhil Kumar Goel and his associate Cyrus Hormusji.
- What
- Nikhil Kumar Goel was arrested for allegedly defrauding investors.
- When
- The arrest occurred recently, and the fraud began in 2018.
- Where
- Hyderabad, India.
- Why
- To defraud investors by promising unusually high returns.
- Accused
- Nikhil Kumar Goel
- Associate
- Cyrus Hormusji
- Fraud Amount
- Approx. Rs 6 crore
- Company Involved
- Fibwave Analytics LLP
- Return Promises
- 30 to 48 percent annually
- Number of Complaints
- 18
- Losses Reported
- Rs 3.33 crore
- Charges
- Sections 316(2), 318(4), and Section 5 of the Telangana Depositors Act