crime
Hyderabad cops crack down on fake Goldman Sachs trading fraud
Hyderabad Cyber Crime Police have arrested a fraudster, Pagadala Uma Mahesh, who was involved in eight cases of trading fraud across India, including three in Telangana. Mahesh, who acted as an account supplier and holder, lured victims through fake investment offers on social media platforms like Facebook. He convinced a 55-year-old Hyderabad man to invest Rs 43,36,146 by showcasing fabricated profits and then demanded additional payments for withdrawal under the guise of 'risk' and 'conversion' fees. The Hyderabad police have issued an advisory warning the public about fake investment groups on social media platforms promising high returns with minimal risk. They advise using SEBI approved platforms and apps for investment and seeking guidance from SEBI registered financial advisors.06:55 PM Feb 12, 2025 IST