Hyderabad police nab Mumbai man for investment fraud, seize Rs. 5 Lakhs

HYDERABAD: Hyderabad cybercrime police on Sunday arrested Mohammed Shoaib Bablu Khan from Mumbai for involvement in an investment fraud case after receiving a complaint from a victim in Hyderabad.

The victim received text messages via WhatsApp and Telegram, luring him with a part-time job from home. Initially, they sent Rs. 500 as a bonus to gain his trust, then persuaded him to invest money, eventually swindling Rs. 2,38,405 from him.

The cybercrime police registered the case under Cr. No. 2436/2023, U/s 66(C),(D) IT Act & Sec 419,420 of Indian Penal Code.

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Mohammed Shoaib Bablu Khan collaborated with cyber fraudsters, using bank accounts to deceive innocent people with fake job opportunities. He provided accounts under his name, others' names, and fake companies, receiving Rs. 1 lakh for each account. These accounts were involved in 42 cases, including six in Telangana.

The police seized Rs. 5 lakhs, 37 cheque books, 38 debit cards, 11 PDS books, 15 rubber stamps of fake companies, 12 SIM cards, three mobile phones, and one laptop.

The police cautioned the public against believing individuals impersonating job providers and urged them not to invest money and fall victim to investment fraud.