Hyderabad: Man Held for Aiding Fraudsters in Rs 2.92 Crore Investment Scam
Cyberabad police nabs real-estate scammer...
HyderabadCyberabad PoliceInvestment ScamFraudBank AccountReal EstateNov 04, 2024
The victim was lured into joining the stock market and investment business. Believing the fraudsters' promises, he transferred a substantial amount of Rs 2.92 crore to the bank accounts provided by them. One of these accounts belonged to Manish Gyan Chand. In this account, the victim transferred Rs 1, 00, 50,000, and Chand was paid a commission for facilitating the fraudulent activities.
Cyberabad police spokesperson stated, 'The victim was convinced to make the investment by the fraudsters, who promised high returns. Unbeknownst to him, the money was transferred to accounts controlled by the fraudsters, one of which was provided by Manish Gyan Chand.'
Manish Gyan Chand provided his bank account to two suspects, Vijay Manuja and Bhavesh Murali Adnani. Murali was arrested last month, while Vijay is still at large. The police are continuing their efforts to track down Vijay and bring him to justice.
The Cyberabad police have been proactive in tackling cyber crimes and financial frauds. They have established a dedicated team to investigate such cases and ensure that the perpetrators are brought to book. The arrest of Manish Gyan Chand is a significant step in this direction.
To prevent such scams, the police advise the public to be cautious of unsolicited offers promising high returns on investments. They recommend conducting thorough background checks and seeking professional advice before making any significant financial decisions.
Cyberabad Police Commissioner, in a statement, emphasized the importance of public awareness in curbing such fraudulent activities. 'We urge the public to report any suspicious activities immediately. Together, we can make a difference in preventing these crimes,' he said.
The Cyberabad police are also working on strengthening their cybersecurity measures and enhancing their investigative techniques to stay ahead of the evolving nature of cyber crimes. This case serves as a stark reminder of the need for vigilance and caution in financial transactions.
Frequently Asked Questions
Who was arrested in the Rs 2.92 crore investment scam?
Manish Gyan Chand was arrested for providing his bank account to fraudsters involved in the Rs 2.92 crore investment scam.
How much money did the victim transfer to Manish Gyan Chand's account?
The victim transferred Rs 1, 00, 50,000 to Manish Gyan Chand's account.
Who are the other suspects involved in the scam?
The other suspects involved in the scam are Vijay Manuja and Bhavesh Murali Adnani.
What advice do the Cyberabad police give to the public to avoid such scams?
The Cyberabad police advise the public to be cautious of unsolicited offers promising high returns on investments and to conduct thorough background checks before making any significant financial decisions.
Is the police taking any additional measures to prevent such cyber crimes?
Yes, the Cyberabad police are working on strengthening their cybersecurity measures and enhancing their investigative techniques to stay ahead of the evolving nature of cyber crimes.
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