Hyderabad, July 20 (IANS) The Telangana Cyber Security Bureau (TGCSB) has arrested three more accused in a trade investment fraud case in which the victim lost over Rs 3 crore.
Md Raziuddin, a private employee, Md Waliullah, a nursing student and Mohd. Zubair Khan, a computer operator, have been arrested by the sleuths of Cyber Crime Police Station.
All three are residents of Hyderabad. According to TGCSB, Waliullah is a native of Bihar.
TGCSB Director Shikha Goel said that Sai Amarnath, a photographer, was earlier arrested in the same case.
Amarnath had opened a current account in 2021 in the name of Cam Zoom Services and provided his bank account details to the fraudsters for crediting crime proceeds. The individual was also involved in 14 other crimes in other states.
On July 11, the victim had lodged a complaint that he had been cheated in the name of investment.
The investigations revealed the victim had received a message via WhatsApp from ‘Bajaj Fin Securities Ltd’ along with an invitation link. He clicked the link and joined the WhatsApp group, which shared regular updates on market trends, block trades, and IPOs.
Influenced by the admin, Purav Jhaveri, and his assistant, Prisha Singh, the complainant joined an app titled ‘Bajaj Financial Securities Limited’ using the link provided. Over time, they advised him to invest in block trading and IPOs, claiming that they could facilitate purchases through “Institutional Investors” for assured allotment and high returns. Believing this, the victim transferred Rs 3,24,85,000 between May 30 and July 9, 2025.
The victim was able to withdraw Rs 5,00,000 once on June 20. However, when he tried to withdraw again on July 8, although the application showed a successful transaction, the money was not credited to his account. When he contacted customer care, he was asked to pay an additional 15 per cent to release the amount. Realising it was a scam, he filed a complaint.
The case was registered under sections 318 (4), 319 (2), 338 of BNS and section 66-D of the IT Act 2000-2008.
The other accused, Prisha Singh and Purav Jhaveri, who had initially contacted the complainant over the WhatsApp group, are expected to be in Cambodia, and an investigation is underway to trace their real identity and location, said Shikha Goel.
According to her, the fraud appears to have originated from abroad. The prime accused are expected to be operating from foreign countries and using the WhatsApp numbers of Indian origin, luring the victims in the name of high returns. Getting attracted to the offer, victims follow their instructions and transfer money into the private bank accounts furnished by the fraudsters.
These private bank accounts are being provided by some Indians for the sake of commission. To get the bank accounts, the fraudsters are luring Indians over various social media platforms like Telegram, etc.
Md Raziuddin, a recent B.Tech graduate, was looking to make quick money and came across a Telegram group (suspected to be operated by Chinese nationals) offering high commissions for converting hard cash into cryptocurrency.
He was offered Rs 1.5 lakh per account and convinced his friends Waliullah and Zubair to open bank accounts. Waliullah opened one current account, and Zubair opened five accounts after receiving Rs 95,000 from Raziuddin. A total of Rs 15 lakh was received in Waliullah’s account (Rs 7.5 lakh linked to the victim’s case). Raziuddin operated Waliullah’s account and withdrew the amount using cheques, converted it into USDT, and stored it in a Binance crypto wallet.
–IANS
ms/uk
