Hyderabad: Cybercrime unit arrested two individuals from Gujarat on August 24 for a trading fraud amounting to ₹60.88 lakh. The accused, Kanani Nikunj Kishorebhai, a chartered accountant, and Pravinbhai Kalubhai Vasoya, targeted a senior citizen from Begumpet. Posing as representatives of “Motilal Oswal Securities,” they contacted the victim via WhatsApp and convinced him to install a trading app through Telegram. They showed him fake profits to persuade him to invest more and threatened to freeze his account if he didn’t comply. The scam was uncovered when the victim realized the contacts were fake. Police seized various items, including five mobile phones, 18 debit cards, ₹27.20 lakh in cash, nine passbooks, 226 chequebooks, six SIM cards, and 15 fake ID cards. The accused were booked under sections 66(C) (D) of the IT Act and 419, 420, 467, 468,471 of the Indian Penal Code.
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