HYDERABAD: Hyderabad Cyber Crime Police have arrested a 27-year-old man from Noida, Uttar Pradesh, in connection with a stock trading fraud that resulted in the loss of ₹14.63 lakh for a Hyderabad-based private employee. The accused, Shiva Shankar, son of Harish Purve and a resident of Gautam Buddha Nagar, Noida, works as a data entry operator. He was arrested in Crime No. 401/2025 under Sections 66(C) and 66(D) of the Information Technology Act, along with Sections 318(4), 319(2), 336(3), 338, and 340(2) of the Bharatiya Nyaya Sanhita. Police revealed that he is involved in two other cases across India, including one in Telangana.
The case began when the victim, a 35-year-old private employee, received a WhatsApp message from the number +91 70449 70887, offering online stock investment opportunities with the promise of high returns. The message included a link to join a WhatsApp group that claimed to deal in institutional, OTC, and Samco group stocks. Believing the claims, the victim transferred large sums of money into the accounts provided by the fraudsters. They claimed his investments were in bulk stocks and IPOs, and that he would earn up to 20 percent profit on the capital. On their application, the victim could see apparent profits, but when he attempted to withdraw his earnings, he was told the funds were still locked in IPOs. The fraudsters then demanded an additional deposit to release the money. Realising he had been deceived, the victim requested a refund but received no response. Eventually, his access to the chats and calls was blocked. In total, the victim lost ₹14,63,046.
Investigation and Arrest
The accused allegedly contacted victims through social media platforms, the Telegram app, and WhatsApp, offering fake investment opportunities with exaggerated returns. Initially, they allowed small withdrawals to build trust before blocking all access once larger amounts had been invested. The Hyderabad Cyber Crime Police found that Shiva Shankar was responsible for managing accounts and supplying financial details used in the fraud.
He has also been linked to a similar case registered in Tamil Nadu. Upon his arrest, police seized two mobile phones, four cheque books, and two debit cards. The arrest was made by a team led by Inspector K. Satish Reddy, along with Sub-Inspector P. Suresh and constables Rajesh Kumar, Ramu, and Mallesham. Authorities have urged the public to remain vigilant against online investment schemes that promise unrealistic profits.
