Bengaluru

Three arrested for duping investors through fake investment consultancy

The North East cyber crime police on Saturday arrested a group of three persons from Ballari for allegedly cheating gullible investors through a fake investment consultancy firm.

Based on a complaint by one of the investors, a team of policetracked down Rahmatulla, 29, Mallaiah Swamy, 29 and C . Durgappa, 28 from Siraguppa taluk of Ballari district .

The police recovered three phones, six SIM cards and other gadgets from them.

The accused would call the gullible posing as executives from a ‘Make In Profit’, a investment consultancy firm, and offer them advice to invest and earn huge returns. Many people fell into their trap and transferred lakhs of rupees to the accused’s account hoping that they invest in stock market, but the accused would cheat them, the police said.

The police have taken the accused into custody for further investigation.


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Printable version | Jun 9, 2022 8:13:56 pm | https://www.thehindu.com/news/cities/bangalore/three-arrested-for-duping-investors-through-fake-investment-consultancy/article65391485.ece