Trading Fraud of Rs 122 Crore has come to light after Hyderabad police uncovered a large cybercrime network that used mule bank accounts to move illegal money. The operation exposed a gang that helped fraudsters transfer funds collected through fake online trading and investment schemes.
Police arrested several suspects who allegedly opened and supplied bank accounts to cybercriminals. Investigators found that the gang received commissions for allowing fraudulent transactions through these accounts. The accused reportedly worked with cyber fraud networks operating across multiple states.
According to officials, the fraudsters targeted victims through fake trading platforms, social media promotions, and WhatsApp groups. They promised high returns on investments and convinced people to transfer large amounts of money.
The Trading Fraud of Rs 122 Crore investigation revealed a complex money trail involving numerous bank accounts and digital transactions. Police tracked the funds and identified the people who helped hide the identities of the main masterminds.
Authorities have warned the public not to share bank accounts, ATM cards, or personal banking details with anyone. The investigation is continuing to identify more members of the network and recover the defrauded money.
