Five individuals were arrested by Tolichowki police for cheating two persons of ₹11.71 lakh through a diversion tactic carried out at a travel agency office in Paramount Colony.
One of the victims, Sai Prasad Reddy, who runs a poultry business, got connected with a man named Maaz on Reddit, who claimed that his associate was offering USDT (United States Dollar Tether) at a discounted price. Reddy wanted to purchase cryptocurrency with interest in online trading for supplementary income.
According to an officer from Tolichowki police, Reddy arranged ₹6.4 lakh in cash and met Maaz and another accused, Irfan, at the agency office on 24 July. Once inside, four unidentified persons took the money under the pretext of counting, and assured him the digital transaction would be processed to his Trust Wallet. As he waited, two men staged an argument, posing as staff, and used the distraction to escape with cash.
A similar incident occurred on the same premises, where another victim, Syed Niyamudin, was defrauded of ₹5.31 lakh.
Following investigation, police arrested Mohd Bilal, Md Abdul Azam alias Pervez, Mohd Iqbal, Mohd Jameel Ahmed, and Syed Maaz Hussaini, all residents of Hyderabad. A total of ₹7.55 lakh was recovered from their possession.
Four other suspects, including Abdul Shahed, who is reportedly based in Dubai, are absconding.
The office of Air Link travel agency was allegedly used as the venue for these meetings and is believed to have served as a front. Among those on the run are the agency owner and an agent who helped coordinate meetings with prospective targets.
Published – July 29, 2025 12:54 am IST
