Archive · 21 May 2025
Hyderabad Man Arrested in Rs 47 Lakh Online Investment Scam
A man in Hyderabad was arrested for tricking a 66-year-old out of a lot of money using a fake online investment scheme.
The scammer promised big returns to get the man to invest.
The scammer would show fake profits, but when the victim tried to withdraw his money, they asked for even more money.
The victim filed a complaint, and the police caught the scammer.
The police believe that this person is connected to a larger criminal group that is operating from another country.
The police are currently trying to find the leaders of the operation.
A Hyderabad man was arrested for defrauding a man of Rs 47 lakh through an online investment scheme.
The accused, Syad Iqbal Hussain, runs a catering business in Hyderabad.
The victim, a retired executive, found the investment opportunity on social media in January 2024.
The fraudsters initially showed small returns to gain the victim's trust.
The victim was promised returns exceeding Rs 1 crore but could not access his money.
- Who
- Syad Iqbal Hussain and a 66-year-old victim
- What
- Online investment fraud
- When
- January to May 2024
- Where
- Hyderabad and Bhubaneswar
- Why
- To defraud the victim of Rs 47 lakh
Victim's Perspective
Fraudster's Perspective
Investment Tactics
Victim's Perspective
Victims are lured into investing by false promises of high returns.
Fraudster's Perspective
Fraudsters use initial small profits to gain the victim's trust.
Fund Access
Victim's Perspective
Victims believe they will receive the promised returns.
Fraudster's Perspective
Fraudsters demand additional deposits before allowing access to funds.
- Victim's Loss
- Rs 47 lakh
- Accused
- Syad Iqbal Hussain
- Location
- Hyderabad, Bhubaneswar
- Scam Type
- Online Investment Fraud
- Modus Operandi
- Fake Investment Platform, High Returns
- Complaint Date
- May 21, 2024
Sources
Housewife loses Rs48 lakh in online share market fraud
Coimbatore folk lose Rs24 crore to cyber fraudsters till May 15
Bhopal advocate duped of Rs 78.25 lakh in stock market investment fraud
Kutch teacher duped of Rs 18L in online stock market scam
4 persons lose money in separate online investment scams
Kanpur bizman loses over Rs 39L to stock market fraud
Man dupes investors via fake app, arrested
Ratnagiri man visiting ailing daughter in Pimpri loses Rs 99,000 in online fraud
Fraudsters dupe bizman of Rs 2 crore in investment scam
