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The Cyber Crime Police of Hyderabad have arrested a 27-year-old man from Punjab in connection with a large stock trading fraud that cheated a city-based freelancer of ₹86.65 lakh. The arrest sheds light on how cyber criminals use money mules to move illicit funds and avoid direct detection.
How the Fraud Unfolded
The case began in April 2025 when the victim, a freelancer from Hyderabad, received a WhatsApp message offering lucrative investments in institutional stock trading, over-the-counter (OTC) shares, and IPO subscriptions. The messages came with promises of daily profits and charts that appeared convincing. Believing the offers to be genuine, the victim began transferring money in multiple installments. Over time, the fraudsters siphoned off a total of ₹86,65,563.
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Investigations revealed that the funds were routed into a bank account belonging to Gurdit Singh, a resident of Jantanagar in Punjab. Singh, police allege, knowingly allowed his account to be used for laundering the money. By acting as a conduit, he enabled the fraudsters to quickly move the money and conceal their identities.
Arrest and Ongoing Probe
The Hyderabad Cyber Crime team tracked the financial trail and arrested Gurdit Singh. Officials say his role was not limited to passively providing an account; he is suspected of being in touch with the masterminds who orchestrated the scam. The police are now trying to identify the wider network behind the fraud, trace international connections if any, and recover part of the defrauded amount.
Authorities stressed that this case reflects a broader trend where cyber fraudsters recruit account holders as “money mules” to bypass financial scrutiny. Often, individuals are lured with commissions or easy money to lend their bank accounts for illegal use, exposing them to criminal liability.
Why This Case Matters
The scam highlights how WhatsApp and other social media platforms are being weaponised to pitch fake investment schemes. Victims, often attracted by the promise of quick returns, end up transferring large sums before realising the fraud. Police have urged people to exercise caution, verify investment platforms, and never trust financial offers received through random messages.
