The Hyderabad cybercrime police on Wednesday arrested 10 people, including a Chinese national, for their alleged involvement in a big investment fraud running into nearly 900 crore spread across the country.

Hyderabad police commissioner CV Anand will disclose the details of the case in the evening, a police official familiar with the development said.

According to the official, the cybercrime police conducted raids on a few call centres operated from Delhi and other places, and managed to break the network of the fake investment companies that have been duping gullible investors through mobile applications.

The accused were luring the investors from call centres, using bank accounts of hundreds of people by paying them commission.

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“According to the estimates, the magnitude of the scam is around 900 crore. The police are questioning them to ascertain more details about the scam, and suspect many more persons are involved in the fraud in which thousands of people were duped,” the police official said, adding that prima facie it’s learnt that the money was being siphoned off to Chinese companies.

Further details are awaited.


By Shadab

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