Man caught for Rs.10 lakh fraud on Twitter; arrests

Hyderabad:A 33-year-old man from Jagadgirigutta was arrested on Wednesday for cheating people on the pretext of providing online share trading tips through Twitter and collecting Rs.10 lakh.

The Cyberabad cyber crime police arrested Bekkam Sunil Kumar Reddy. Naresh Babu Nimmala, an IT employee and a Twitter follower of Reddy, lodged a complaint against him.

Naresh Babu had been taking online trading tips from Reddy since 2016 and was paying an annual fee of Rs.25,000. After he made profits, the victim transferred Rs.6 lakh to Reddy after the latter



promised 5% returns annually, in profit or loss.

Later, Reddy sent a WhatsApp message with a fake name stating he had died in an accident, while his wife was critical with a request for more funds for her treatment from followers. A suspicious Babu then approached the police.

Police booked Reddy under sections 417, 419 and 420 of the IPC and Section 66 (C and D) of the IT Act. They seized Rs.4 lakh from Reddy. Reddy hatched the plan after facing losses in the share market, police said.