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Hyderabad: Police bust investment racket led by Chinese kingpins
By IANS |
Published on
Mon, Feb 8 2021 16:33 IST |
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Crime. Image Source: IANS News
Hyderabad, Feb 8 : Cyberabad Police on Monday claimed to have busted a racket led by two Chinese nationals as kingpins that cheated people across India by enticing them with huge returns on investments.
Three accused have been arrested in the case while the search is on for the absconding accused including the Chinese nationals.
The economic offences wing of Cyberabad Police busted the racket being run in the name of Shared Bike (BK) / Sharing Economy .
Cyberabad Police Commissioner V.C. Sajjanar told reporters that the accused cheated around 20,000 people all over the country to the tune of Rs 50 crore.
Cyberabad police arrested three for duping over 20,000 depositors
Updated:
Updated:
February 08, 2021 17:02 IST
Cyberabad Commissioner of Police V.C. Sajjanar said that two Chinese nationals are the kingpins behind the multi-crore financial fraud.
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Cyberabad Commissioner of Police V.C. Sajjanar said that the victims were asked to invest money offering huge returns, in the name of ‘Shared Bike and Sharing Economy’ and promised 11 % interest per day. Photo: Special Arrangement
Cyberabad Commissioner of Police V.C. Sajjanar said that two Chinese nationals are the kingpins behind the multi-crore financial fraud. Three people who duped more than 20,000 people across the country to the tune of ₹50 crore were arrested by the Cyberabad police, in Hyderabad on Monday. Cyberabad Commissioner of Police V.C. Sajjanar said that two Chinese nationals, who are currently at large, are the kingpins behind the multi-crore financial fraud.