Hyderabad: The Hyderabad police recovered and refunded Rs 9,50,531 to a businessman who was duped by cyber fraudsters under the pretense of a business opportunity.
According to the reports, the fraudsters convinced the 32-year-old businessman from Hyderabad to transfer the amount under various pretenses, including registration fees, processing charges, and issuance of ISO certificates, assuring him of high market demand for his products.
After receiving the money, the accused cut off all communication, leaving the victim defrauded.
Upon receiving the complaint, the Hyderabad cybercrime police registered a case under sections 66(C) and 66(D) of the IT Act and Sections 111(2)(b), 318(4), and 319(2) of BNS.
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The investigative team tracked down the accused to Sector-7, Dwaraka, New Delhi, where they were arrested. Following legal procedures, the entire amount of Rs 9,50,531 was successfully recovered and returned to the victim.
