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Hyderabad Cyber Crime Police Refunds Over Rs. 1 Crore to Fraud Victims
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In a significant development, the Hyderabad City Cyber Crime Police successfully refunded a total of Rs. 1,09,10,000 (One Crore Nine Lakh Ten Thousand Rupees) to victims of cyber fraud in two separate cases.
In a significant development, the Hyderabad City Cyber Crime Police successfully refunded a total of Rs. 1,09,10,000 (One Crore Nine Lakh Ten Thousand Rupees) to victims of cyber fraud in two separate cases. The refunds included Rs. 80,00,000 in case number Cr.No.1665/2024 and Rs. 29,10,000 in case number Cr.No.1650/2024, both related to fraudulent schemes that promised substantial profits through investment in trading.
According to the details, the case involved a 52-year-old private employee from Begumpet, Hyderabad, who fell victim to fraudsters operating under the guise of a trading platform named Lazardoosvip.top. The victim was lured into investing and ended up transferring Rs. 1,22,26,205 to various bank accounts provided by the accused. The Cyber Crime Police registered the complaint and initiated an investigation under relevant sections of the IT Act and the Indian Penal Code.
The second case was reported by a 62-year-old male resident of Hyderabad, who was deceived by fraudsters claiming to offer investment opportunities in Goldman Sachs Securities. This victim transferred Rs. 32,10,000 to the fraudulent accounts. The Cyber Crime Police registered this case and commenced an investigation under similar legal provisions.
Under the leadership of Inspector K. Madhusudhan Rao and Sub-Inspector P. Suresh, both teams worked diligently alongside ACPs Shiva Maruthi and Chand Basha, and under the oversight of DCP Smt. D. Kavitha. Their efforts included notifying bank officials to freeze the fraudulent accounts and guiding the victims in filing court petitions to reclaim their funds.
The teams' hard work paid off when the Additional Chief Metropolitan Magistrate, Sri Eswaraiah from the XII ACMM Court in Nampally, issued court orders for the return of Rs. 1,09,10,000 to the victims’ bank accounts. This victory was not only a financial relief for the victims but also a testament to the effective mechanisms the Hyderabad Cyber Crime unit has in place to combat such fraudulent activities.
In light of these incidents, the police have issued a warning to the public against investing in unknown platforms that promise high returns within short periods. Individuals are urged to avoid engaging with such schemes to prevent falling victim to cyber fraud.
Victims of cyber scams are encouraged to report their cases promptly to increase the chances of recovering lost funds. Complaints can be made through the helpline number 1930 or via the National Cyber Crime Reporting Portal at cybercrime.gov.in.
