Hyderabad: The Cyber Crime Police in Hyderabad have arrested a man involved in a stock-trading fraud. The accused, Lalit Kumar Jayswal, is 33 years old and from Ahmedabad, Gujarat. He has been linked to 16 fraud cases across India, including three in Telangana.
Police said his crimes have been reported in several states such as Tamil Nadu, Maharashtra, West Bengal, Jharkhand, Kerala, Karnataka, Punjab, Delhi, and Telangana. During the arrest, authorities seized mobile phones, a laptop, debit cards, and cheque books from him.
The fraud came to light when a victim was added to a WhatsApp group named “Fidelity International Wealth Centre.” In the group, members shared screenshots showing high profits from stock trading. Believing these claims, the victim opened a trading account and began investing money, hoping to earn 10 times more than what he put in.
The victim used two websites to manage his investments. After transferring Rs 6.2 lakh, the fraudsters demanded more money. When he refused to pay, they threatened to hold back his funds, blacklist him, and block him from the group.
Police explained that scammers often contact people through social media platforms like Telegram and WhatsApp. They promise big profits in a short time through stock trading. At first, they show fake profits and even allow small withdrawals to gain trust. Then, they encourage victims to invest more money and eventually block them from accessing their funds once large sums are invested.
