Hyderabad Online Scam Unveiled: Millions Defrauded in Elaborate Scheme
Pubnews: Hyderabad Online Scam Unveiled: Millions Defrauded in Elaborate Scheme. Recently, Hyderabad was struck by a massive online scam that has left many victims in its wake. The scam came to light when a person reported being cheated of a staggering Rs 28 lakh. Following the complaint, the local crime branch launched an investigation, leading to shocking revelations about the extent and complexity of the fraud. As reported by ndtv, it was soon discovered that multiple individuals were involved in this deceptive online business.
The scam began by enticing people with the promise of part-time jobs and investment opportunities to grow their money. The initial tasks were seemingly simple, such as liking YouTube videos or writing Google reviews, and participants were rewarded with money for completing them. However, this was just the beginning.
Once the victims were lured in, they were encouraged to invest more significant amounts for higher returns. The investments started from as little as Rs 5,000, but the returns purportedly reached double the initial amount. As their earnings grew, victims were persuaded to invest substantial sums, amounting to lakhs of rupees. The catch was that they could not withdraw any money until they completed all the tasks assigned to them. To further deceive the victims, a fake window displayed the returns on their investments, creating a false sense of security.
Preliminary investigations revealed that the scammers had opened 48 bank accounts under the guise of shell companies, through which they defrauded an astonishing Rs 584 crore. Shockingly, it was later discovered that an additional Rs 128 crore had been swindled, involving a total of 113 bank accounts connected to the scam.
The complexity of the operation was evident as the money was traced through a convoluted path, reaching China via Dubai and undergoing conversion into cryptocurrency. To make matters worse, Hyderabad Police discovered that some of the funds had even been channeled to the account of a terrorist group based in Lebanon called Hezbollah.
In the wake of the investigation, authorities have managed to arrest nine individuals so far, with four apprehended in Hyderabad, three in Mumbai, and two in Ahmedabad. However, the pursuit is ongoing, and six more suspects are still at large, eluding the grasp of the police.
This shocking revelation serves as a stark reminder to remain vigilant in the digital world. Scammers continue to devise elaborate schemes to defraud innocent people, and it is crucial to exercise caution and skepticism when presented with offers that seem too good to be true. As investigations continue, the authorities are committed to bringing all those involved to justice and protecting the public from such fraudulent activities.