Hyderabad:
Cybercrime police have arrested two Hyderabad residents for their alleged role in a digital arrest fraud that cost a 63-year-old retired employee and his daughter Rs 29.17 lakh. A third accused, identified as Sachin from Bengaluru, remains absconding, police said.
The arrested men, Mohd Ashfaq Hussain and Ahmed Najeeb Uddin, both aged 27 and residents of Ameerpet of Hyderabad, allegedly helped move the cheated money through multiple bank accounts and cryptocurrency transactions to conceal its origin.
Fake Officials, Forged Documents
The fraud began on March 3 this year, when the retired employee received calls from people posing as officials of the Delhi Police, CBI and Probe Agency ED.
The callers allegedly accused him of involvement in a money-laundering case involving Rs 6.8 crore and threatened him with arrest.
''To make the allegations appear genuine, they sent forged official documents and claimed his Aadhaar details and fingerprints had been misused. The fraudsters persuaded him and his daughter to transfer money for supposed verification, promising a refund,'' M Srinivasulu, Additional CP Crime and SIT Hyderabad.
Police said that family was also threatened with arrest and told to maintain secrecy in the name of national security. Believing the claims, they transferred Rs 29,17,668.
''When the promised refund failed to arrive, the victim approached the police.'' Additional CP Crime and SIT added,
Upon investigation the mule accounts were used to hide the money trail. Ashfaq and Najeeb had allegedly contacted Sachin through WhatsApp while facing financial difficulties.
Police said Ashfaq shared bank account details obtained from Najeeb with Sachin, who allegedly transferred the fraud proceeds into those accounts.
The duo allegedly withdrew the funds through cheques and redeposited the cash into different accounts using cash deposit machines. Sachin then allegedly used the money to purchase USDT cryptocurrency and sold it online for Indian rupees.
The two arrested men reportedly received commissions for facilitating the transactions.
Acting on technical evidence, police arrested the duo in Ameerpet on October 17 and seized two Apple iPhones.
Investigators said approximately 16 cases across India may be connected to the alleged activities.
The accused were produced before a competent court. Further investigation is underway to trace Sachin and identify others involved.