The Hyderabad Cyber Crime Police have arrested two individuals from Vashi, Navi Mumbai, for their involvement in a major online trading fraud amounting to ₹12.3 lakh. The arrests were made in Cr. No. 1663/2025 under Sections 66C and 66D of the IT Act and Sections 318(4), 319(2), 336(3), 338, 340(2) of the BNS.
The accused A1 Ravi Kumar Lal and A2 Shivendra Ashok Singh are linked to 12 cyber fraud cases across the country, including two cases in Telangana.
Details of the Accused
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A1: Ravi Kumar Lal (38)
Native of East Delhi; residing in Vashi, Navi Mumbai.
He operated a Bank of Baroda account by sharing OTPs with an absconding associate, Viraj from Pune, using an APK file. -
A2: Shivendra Ashok Singh (32)
Businessman from Vashi, Navi Mumbai.
He opened and supplied multiple mule bank accounts to A1 for fraudulent transactions.
Modus Operandi
A 53 year old Hyderabad resident was duped of ₹12,30,000 by fraudsters posing as investment experts on WhatsApp.
The scammers, using fake entities Flames Alliance and Munoth Capital Investment Limited, directed the victim to invest through the fraudulent platform AEGIS (aegiscapcorp.vip/stock).
To gain trust, the fraudsters:
- Displayed fake profits
- Allowed small withdrawals initially
- Continued persuading the victim to invest more
- Finally blocked him after collecting funds between 13 – 28 August 2025
During investigation, police found that:
- A2 created and supplied mule accounts
- A1 operated the accounts and shared OTPs with the absconding suspect Viraj
- Police seized Four mobile phones and Three cheque books from the accused
Public Advisory
Hyderabad Police urged citizens to remain vigilant about online trading and investment platforms offering unusually high returns.
They cautioned against sharing personal banking information and warned that allowing others to use your bank account turning it into a mule account can make you complicit in cybercrime.
Victims of cyber fraud are advised to immediately call 1930 or report complaints at the national cybercrime portal.
