Hyderabad Cyber Crime Police Busts Fake Call Center Cheating Trading Aspirants

Hyderabad Cyber Crime Crackdown: Fake Call Center Swindling Trading Aspirants Exposed

Hyderabad(Aug, 2) : The Cyber Crime Police of Hyderabad successfully uncovered a fake call center operating in Pileru Town, Chittoor District, Andhra Pradesh, leading to the arrest of five individuals involved in the scam. The accused, identified as Tippannagari Sai Saran Kumar Reddy, Kotholla Mahesh, Reddivari Haribabu Yadav, Korru Ajit, and Madiga Diwakar, were deceiving aspiring traders by promising share market trading tips. A complaint was filed on July 11, 2023, by a resident of Hyderabad who fell victim to the fraud and lost Rs. 2,60,000/- after being asked to deposit money in the provided bank accounts instead of their Demat account. The fraudsters then cut off all communication after receiving the money. Subsequently, a case was registered under relevant sections of the ITA Act and IPC, leading to a thorough investigation.

The arrested persons were associated with Integear Consultancy Pvt Ltd., allegedly established by Sai Saran Kumar Reddy without the required SEBI registration or appropriate permissions. The accused hired lady tele-callers who, following their instructions, contacted trading aspirants and lured them with promises of significant profits using share market tips. Once gaining their trust, the fraudsters acquired the aspirants’ Demat account credentials and asked them to deposit money into the provided bank accounts, assuring that professional traders would operate their Demat accounts for higher returns. However, after receiving the money, they refused to refund or respond to the victims’ inquiries. The investigation revealed that around 140 individuals were cheated, amounting to a total of Rs. 1.08 Crores/-.

The dedicated team of police officers, led by Inspector K. Haribhushana Rao, along with SI A. Shailender Kumar, HC V. Narsing Rao, and PC’s B. Ravi Sankar, A. Ramu, G. Venkatesh, C. Rajesh Kumar, G. Govinda Rao, and N. Vamshi, worked under the supervision of Asst. Commissioner of Police, Cyber Crime PS, Hyderabad, Shiva Maruthi, to bring the culprits to justice. The raid resulted in the seizure of crucial evidence, including six mobile phones and 31 laptops, aiding in the investigation of the case