Delhi HC upholds dismissal of cop who probed Ishrat case

15,000 Indians duped of Rs 700-cr; Hyderabad Police bust ring with China links I Oneindia News

The Hyderabad Police have uncovered one of the largest cybercrime syndicates operating in India. The Police have busted a Rs 712 crore investment fraud by Dubai-based Chinese operators and have arrested nine people in the case. The Cyber Crimes Unit that busted the racket also seized 17 mobile phones, two laptops, 22 sim cards, four debit cards, documents pertaining to 33 companies, passports, and a few currency notes. The police believe that the gang cheated gullible investors in the country to the tune of Rs 712 crore and routed this money to China through Dubai in the form of crypto currency. This gigantic fraud reportedly involved Chinese handlers in which 15,000 Indians were duped of over ₹ 700 crore in less than a year. The Police also believe that a part of the money was converted into cryptocurrency and deposited into an online wallet operated by the Lebanese militant group Hezbollah. So far, Police have arrested four from Hyderabad, three from Mumbai and two from Ahmedabad - and they are on the lookout for at least six more. #Hyderbadcybercrimeringbusted #15000indiansdupedof700crore #Hyderabad ~PR.153~ED.102~HT.96~