The Cyber Crime Police of Hyderabad arrested two men from Vashi, Navi Mumbai, for their alleged role in a stock trading fraud targeting a Hyderabad resident who lost ₹12.3 lakh to a bogus investment scheme.
An officer from the unit said the arrests followed a complaint from a 53-year-old man who was deceived by scammers posing as investment advisers operating under the names ‘Flames Alliance and Munoth Capital Investment Limited’.
The accused were identified as Ravi Kumar Lal, 38, and Shivendra Ashok Singh, 32. Investigators said Ravi Kumar Lal operated a bank account by passing on OTPs through an APK file to an associate in Pune who is still absconding, while Shivendra Ashok Singh supplied mule bank accounts that were used to channel victims’ money.
“The victim was lured through WhatsApp messages by individuals posing as stock market experts who promised exceptional returns. He was directed to a fake trading platform hosted on the website. Between August 13 and August 28, he transferred the money into various accounts after being shown fabricated profits and reassured through small early withdrawals. Once larger sums were deposited, his access was blocked and the fraudsters vanished,” explained the officer.
Investigators said the group followed a familiar script. One accused provided bank accounts, another handled their operation and the mobile numbers linked to those accounts. The victim was shown manipulated profits to create a sense of legitimacy before withdrawals were frozen. Officers added that the arrested pair were linked to several similar frauds across India.
Police seized four mobile phones and three cheque books from the accused. Victims of cyber fraud are advised to call 1930 or seek help through the national cybercrime reporting portal.
Published – November 29, 2025 06:30 pm IST
