Hyderabad: Police on Saturday arrested four cyber criminals in connection with a Rs 14 crore cyber fraud that cheated a Hyderabad-based doctor through a fake stock market investment scheme.
Police said cyber criminals targeted the doctor online and gradually trapped him. Fraudsters operating from Cambodia contacted him through social media and gained his trust over time.
According to investigators, the accused duped the doctor in the name of stock market investments. Believing their promises of high returns, the victim took loans, sold his house and transferred large sums of money.
Rs 14 crore cyber fraud linked to Cambodia network
Investigators traced the fraud to mule bank accounts arranged by the accused. The arrested individuals provided these accounts and routed the cheated money to Cambodia through multiple channels.
Police said Chinese nationals operating from Cambodia controlled the organised cyber crime network. They added that agents lured young people from India to Cambodia with job offers and forced them to commit cyber crimes.
Police launched an intensive investigation after receiving the doctor’s complaint last month. Financial trails and technical analysis helped investigators identify and arrest the accused who facilitated the illegal transactions.
