Hyderabad: The Marketing Intelligence Team of Cybercrimes PS, DD, Hyderabad, arrested two persons in separate cases of duping people in the name of promising high returns in investments made in the stock market and dealerships for popular businesses.

The accused have been identified as Shivam Shantnu Singh, a resident of Bokaro Steel City, Jharkhand, and Rahul Kumar, a resident of Nasrathpur village, Sheikhpura district in Bihar.

The first accused Shivam Shantan Singh along with his other associates Nagender and Sunita Kumari cheated victims by promising high returns in the stock market on investments made for them. Nagendar used to contact the victims with an UK Whatsapp number and tell them that he is a leading broker from the US at Ladbrokes.com. The victims would deposit money into the accused bank accounts through GPay. He would assure returns of 15 per cent on a monthly basis. Once the money is transferred to them, they would avoid picking the victims' calls. According to a complaint, they had cheated a person to a tune of Rs 20 lakhs.

The second accused Rahul Kumar, along with associates Vikas, Sandeep Kumar and Sonu Kumar, would call people up and offer dealerships with popular businesses such as Haldirams or SBI customer care and so on. They would ask the victims to deposit registration fee, agreement fee, security deposit, and advance amount for the goods into various bank accounts. Then they would switch off their mobiles and never called the victims back.

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