Hyderabad Businessman Loses Rs 12.3 Crore in Online Trading Fraud
1 report, 1 independent
Updated Nov 1
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What happened
A businessman in Hyderabad lost Rs 12.3 crore in an online trading fraud spanning seven months, from March to October 2026, according to reports from siasat.com. The fraudster, who identified himself as Arjun, convinced the victim to transfer funds to multiple bank accounts, promising higher returns. The victim lodged a complaint with the Telangana Cybersecurity Bureau on November 13.
From siasat.com
Why it matters
The incident highlights the risks associated with online investment schemes and trading fraud. The case has resulted in criminal charges being registered against Arjun under sections related to cheating and criminal breach of trust.
From siasat.com
Who's involved
- ArjunIndividual accused of conducting the online trading fraud