The Hyderabad cybercrime police recently arrested a person from Kerala for his involvement in fraudulent activities. The individual was accused of providing multiple bank accounts, engaging in fraudulent transactions, and collaborating with cyber fraudsters.
According to the complaint, the victim was lured by the cyber fraudsters who promised significant profits through institutional trading. As a result, the victim ended up transferring over Rs 18.60 lakh to the bank accounts associated with the fraudsters.
A case was filed under various sections of the law, including U/sec 66(C), (D) ITA Act-2008, and 419, 420 of the Indian Penal Code. The police conducted a thorough investigation into the matter.
The main accused, identified as Shabi NH (46), along with his associate Nishanth, worked in cahoots with cybercriminals from foreign countries like Dubai, Hong Kong, and China. Their scheme involved deceiving innocent individuals by posing as institutional traders promising high returns. Shabi was responsible for providing nine bank accounts for carrying out the fraudulent activities.
