Hyderabad Cyber Crimes DCP V. Aravind Babu and other senior officials from the wing with the accused during a press conference on Tuesday.
Two men from Mumbai were arrested by the cybercrime wing of the Hyderabad police in connection with an investment fraud that duped a Hyderabad citizen of over ₹23 lakh. The accused, identified as Dharmesh Jaswantbhai Barot, 35, and Mohd Shahid Hanif Ansari, 38, orchestrated the scam through fake stock trading platforms and fraudulent WhatsApp groups.
The case came to light following a complainant on August 9, 2025, in which the victim stated that she was lured into joining a WhatsApp group claiming to provide expert trading tips. The accused used FaerPE trading app to induce her to trade in “Block Deals,” initially allowing small withdrawals to gain trust before freezing her total investment under the pretext of a “T+2 settlement period.”
Investigation revealed that the accused manipulated fake dashboards and profit charts to appear professional. “Dharmesh targeted Rapido bike taxi drivers, including Shahid, promising commissions of up to ₹10 lakh in exchange for their current bank accounts. These accounts, including Shahid’s Naira enterprises RBL account, were used as conduits to layer and siphon off the cheated money, making the trail difficult to track,” said Hyderabad Cyber Crimes DCP V. Aravind Babu. Police seized two mobile phones connected to the operation.
Meanwhile, the Hyderabad Cyber Crime Police have urged citizens to remain cautious of fake investment schemes, invest only through SEBI-registered brokers and verified platforms, and report any cybercrime immediately via the helpline 1930.
Published – December 16, 2025 06:55 pm IST
