Metro India News | Hyderabad 

Hyderabad Cybercrime police arrested an accused person, who has been involved in 16 cases across India and 3 cases in Telangana state.  Arrested person has been identified as Lalitkumar Jayswal (33), resident of Ahmedabad in Gujarat. This individual was involved in a stock trading fraud case.

The victim was automatically added to a WhatsApp group named "Fidelity International Wealth Center," where members shared screenshots of profits from stock trading. Convinced by their claims, he opened an equity trading account and invested money, lured by promises of 10X profits and discounted prices. He used two websites (links unavailable) to manage his account. However, after transferring Rs. 6,20,000, the scammers demanded additional funds. When he refused, they threatened to withhold his investment, blacklist him, and block him from the channel.

Fraudsters are contacting victims through Social media platforms, Telegram app, WhatsApp calls and Messages and used to offer double or triple profits in a short time through stock market trading. They are displaying huge returns in their application initially. Allowing withdrawals to a certain extent to build trust and proposing investments with promises of substantial profits.

Showing virtual profits to lure victims into investing more and blocking withdrawals once larger amounts are invested. Police have seized three mobile phones, one laptop, four debit cards and five cheque books from the accused person.