HANAMKONDA: The Warangal Cyber Crime police arrested a man from Tamil Nadu for allegedly cheating a local resident of nearly `12 lakh through a fraudulent online stock market investment scheme.
The accused has been identified as Pavan Kumar, from Tiruvannamalai in Tamil Nadu.
According to Warangal Cyber Crime ACP M Venkataramana, the victim was lured into investing through a mobile application named ‘New Wealth’, which promised massive returns. Trusting the fraudster, the victim transferred `12 lakh to accounts provided by them.
When the promised returns failed to materialise, the victim filed a police complaint.