Cybercrime police arrest 2 for fake investment scheme in Hyderabad

The Hyderabad cybercrime police arrested two persons for duping a local woman to the tune of Rs 3,79,000.

As per her complaint, the 52-year-old victim from Troopbazaar in Hyderabad came across an advertisement on Facebook promoting “Block Trading.”

She clicked the link and was redirected to a WhatsApp group ‘K-2 Nuvama Wealth Group,’ operated by the two accused – L Anand Reddy and E Laxma Reddy.

The victim was contacted by a person named ‘Kangana Sharma,’ persuading her to invest and claiming food profits in return.

In May, the victim invested Rs 10,000/- and was able to withdraw a small profit, which



created a sense of trust. Over time, she invested multiple times in various amounts.

She realised she was duped only when she was unable to withdraw the money. According to her complaint, ‘Kangana Sharma’ informed her that a 30 percent “profit tax” payment was required to process the withdrawal.

Sensing trouble, the victim refused to send the money. She lost all touch with ‘Kangana Sharma’ thereafter.

During the investigation, the Hyderabad cybercrime team discovered that Laxma Reddy had a fraudulent account, and Anand Reddy was actively involved in orchestrating a fraudulent scheme that utilised multiple bank accounts.