Hyderabad: Five members of a gang were arrested on Monday, July 28, for duping a man in Hyderabad under the pretext of selling cryptocurrency. Police seized Rs 7.55 lakh in cash from the accused.
The accused were identified as Mohmmed Bilal, Mohammed Abdul Azam, Mohammed Iqbal, Mohammed Jameel Ahmed and Syed Maaz Hussaini.
According to the Tolichowki police, P Sai Prasad Reddy was interested in cryptocurrency deals. While searching online, he came across Syed Maaz Hussaini on Reddit, who introduced him to Syed Irfan, claiming he had USTD worth Rs 10 lakhs and was interested in selling.
Maaz told Prasad that there was a buyer, Irfan, who was willing to sell cryptocurrency worth Rs 10 lakh USDT.
On July 24, Prasad met Irfan and Maaz at an office in Paramount Colony in Tolichowki. Four other men were also present.
One of them collected the cash from me and asked me to wait while the crypto amount was being transferred to my trading account. Suddenly, two others began quarrelling with each other, distracting me. They stole my cash bag and ran away, Prasad stated in his complaint.
Prasad realised he was duped by Maaz and his associates after another person, Syed Niyamudin, also alleged cheating to the tune of Rs 5,31,000 cash in the same way.
Based on the complaint, police arrested the five for cheating and theft under sections 318(4) and 305 of the Bharatiya Nyaya Sanhita (BNS).
Four others: Abdul Shahed, Syed Khaleel Ahmed, Mohammed Akhil Ahmed and Syed Irfan are absconding.
Case has been registered and further investigations are on.
