According to the police, the accused would befriend victims posing a woman on Tinder and WeChat mobile apps and then lure them into online forex trade and cryptocurrency with the promise of quick money.
The main accused is suspected to be from Hong Kong. (Photo for representation)
Hyderabad police has arrested an engineering graduate from Kondapur for working in connivance with crooks from China to commit fraud. According to a report in The Times of India, a city-based businessman was duped of Rs 17.5 lakh by the fraudsters in the guise of online forex trade.
According to the police, the accused, K Rajesh Kumar, was working in connivance with crooks from China. The police believe that the fraudsters have cheated six others in similar fashion including a retired army officer who lost Rs 23 lakh.
The main accused is suspected to be from Hong Kong and has used phone numbers of Hong Kong, Singapore and UK. They would use Indian agents who would provide local bank accounts for the fraud. Rajesh was one such agent.
According to the police, the accused would befriend victims posing as a woman on Tinder and WeChat mobile apps and then lure them into online forex trade and cryptocurrency with promise of quick money.
After the victim transferred money into an Indian bank account, the accused would show profits in a dummy online trading account and to gain trust, would even transfer money. Once a significant amount of money was transferred from the victim, they would cut contact and vanish.
“As the money is being transferred in the form of BitCoins and the only mode of communication is through texting on online chatting apps like WeChat, WhatsApp and Tinder, tracing the main accused in China would be difficult. We have filed a plea to seek custody of Rajesh to gather more details,” Cyberabad Assistant Commissioner of Police (ACP) Ch Y Srinivas Kumar told The Times of India.