Telangana Police arrested a cyber fraudster from Kanpur for duping a Hyderabad businessman of Rs 1.98 crore
Kanpur Cyber Fraudster – In a major breakthrough, Telangana Police arrested a cyber fraudster from Kanpur for allegedly duping a Hyderabad-based businessman of Rs 1.98 crore. The accused, identified as Amar Sharma, orchestrated a sophisticated scam by luring the victim into fake stock market investments via social media platforms. The arrest, which took place in Kidwai Nagar, Kanpur, has exposed a larger cybercrime syndicate operating across multiple cities.
Table of Contents
The Scam: How the Fraud Was Executed
The victim, G. Venkat Reddy, a prominent businessman from Hyderabad, was approached by the fraudster through Facebook, where Sharma posed as a high-profile investment consultant. Over several weeks, Sharma convinced Reddy to invest in a fraudulent stock trading scheme, promising high returns.
Between March and April 2025, Reddy transferred Rs 1.98 crore into multiple accounts linked to Sharma’s network. However, when he attempted to withdraw his profits, he found his trading account blocked, and all communication with Sharma ceased.
Realizing he had been scammed, Reddy filed a formal complaint with the Hyderabad Cyber Crime Police, leading to an extensive investigation.
The Arrest: Telangana Police Crack Down on Cyber Fraud
Following weeks of surveillance, Telangana Police tracked Sharma’s location to Kidwai Nagar, Kanpur. A special cybercrime unit raided his residence on June 1, 2025, arresting him in the early hours of the morning.
Authorities revealed that Sharma was part of a five-member cyber fraud syndicate, with one accomplice already arrested in Delhi. The remaining suspects are believed to be operating from Mumbai and Bengaluru, prompting a nationwide manhunt.
Impact of Cyber Fraud in India
Cyber-fraud cases have surged in India, with financial scams becoming increasingly sophisticated. According to National Cyber Security Reports, India witnessed a 35% rise in online financial frauds in 2024, with losses exceeding Rs 5,000 crore.
Common cyber fraud tactics include:
- Fake investment schemes targeting high-net-worth individuals.
- Phishing scams impersonating banks and financial institutions.
- Cryptocurrency frauds promising unrealistic returns.
Experts urge businesses and individuals to verify investment opportunities and avoid sharing financial details online.
Legal Action and Next Steps
Sharma has been remanded in custody, and authorities are working to recover the stolen funds. The Hyderabad Cyber Crime Police is coordinating with Kanpur authorities to dismantle the larger fraud network.
Meanwhile, financial regulators are pushing for stricter cybersecurity laws to combat rising online fraud cases.
Conclusion- The Kanpur Cyber Fraudster
The arrest of Amar Sharma marks a significant victory in India’s fight against cybercrime. As digital frauds continue to evolve, law enforcement agencies are stepping up efforts to track and dismantle cyber syndicates. This case serves as a critical reminder for businesses and individuals to remain vigilant against online scams.
Also read – India Weighs Retaliation as US Rejects WTO Notice on Metal Tariffs