Bengaluru: Bengaluru police have arrested six individuals in connection with a Rs 854 crore cyber investment fraud case. This six-member gang allegedly deceived thousands of victims across India under the guise of an investment scheme. Police have reported that they have frozen Rs 5 crore of the total amount.
The accused established friendly relations with potential investors through WhatsApp and Telegram. They would then mislead investors by making various promises and encouraging them to invest small amounts. Investors were led to believe they could make a daily profit ranging from 1,000 to 5,000 rupees. Eventually, they were forced to deposit sums ranging from 1,000 to 10,000 rupees. Many individuals invested their money based on the fraudulent group’s promises.
Approximately a thousand people invested amounts ranging from Rs 1 lakh to Rs 10 lakh, with some investing even more. Investors transferred their funds to various bank accounts through online payments. However, when they attempted to withdraw their money, refunds were not possible. Frustrated investors subsequently filed complaints with the police, leading to the arrest of the accused during the police investigation.