Hyderabad: Cyber Crime Police arrested two men from Vashi in Navi Mumbai in a trading fraud case that spread across several states. Investigators linked the accused to 12 cases nationwide, including two registered in Telangana. The Hyderabad case was booked under Sections 66C and 66D of the IT Act and Sections 318(4), 319(2), 336(3), 338 and 340(2) of the BNS.
Police identified the suspects as Ravi Kumar Lal and Shivendra Ashok Singh. Officers said Ravi Kumar operated a Bank of Baroda account by sharing OTPs with an absconding associate in Pune through an APK file. Meanwhile, Shivendra opened mule accounts and supplied them to Ravi, enabling the flow of transactions in the scam.
Trading fraud traced to stock-investment scam targeting a Hyderabad victim
The trading fraud came to light after a 53-year-old Hyderabad resident lodged a complaint about losing ₹12,30,000 to scammers posing as investment experts. The groups, working under the names Flames Alliance and Munoth Capital Investment Limited, misused the identity of a genuine firm. Moreover, they directed the victim to a fake trading platform called AEGIS, hosted at “aegiscapcorp.vip/stock.”
Between August 13 and August 28, 2025, the victim deposited the money believing the platform showed authentic returns. Initially, the scammers allowed small withdrawals to build trust. Later, they demanded additional payments to unlock supposed profits. When he refused, they admitted the fraud, removed him from the group and blocked his number.
Police explain the operation method as investigation widens
Officers said the trading fraud ring followed a structured process. They promised high returns, displayed inflated profit figures in the application and encouraged larger deposits with manipulated screenshots. Additionally, they used mule accounts to conceal financial trails. Once they secured substantial funds, they blocked withdrawals and ended communication with the victims.
Police seized four mobile phones and three cheque books from the accused. The team, led by Inspector P. Pramod Kumar along with SI Shaik Azeez and Cyber Crime staff, travelled to Maharashtra and arrested the suspects after tracking their activity.
Hyderabad Police warn public amid surge in trading fraud cases
Hyderabad Police urged citizens to remain alert to trading fraud attempts. Officers said scammers approach victims on WhatsApp, Telegram, Instagram, X and Facebook using misleading advertisements and fake profiles. They also circulate fabricated profit screenshots to build confidence.
Police advised people not to share banking credentials and not to hand over accounts for any purpose, as mule accounts often support cybercrime. Furthermore, they encouraged victims to dial 1930 or visit cybercrime.gov.in for immediate assistance.