Four held for cheating new investors to tune of Rs 3.63 Crores

Hyderabad: Cyberabad Crime police has arrested four directors of various investment firms (Advisers) operating from Madhya Pradesh’s Indore adviser firm for cheating new share trading investors to the tune of Rs. 3.63 crores.

Notably, police have seized the cheating amount from the firms.

Cyberabad Police Commissioner V C Sajjanar said, “In the last few months, we have received complaints on four private firms from four complainants stating that the firms have first provided some tips about online trading and collected amounts from them and later they stopped responding and cheated willingly.”

Based on the reported cases, a team from Cyber Crime visited Indore and conducted raids on above companies and apprehended four directors by name Swapnil Prajapathi, Akhilesh Raghuvanshi, Santosh Singh Parihar and Sagar Sahu of the four different firms with the help of local police and Securities and Exchange Board of India (SEBI), Indore,” he added.