HYDERABAD: The cybercrime sleuths on Saturday arrested managing directors of commodity trading firm Multyjet Trade Private Limited for duping hundreds of investors to the tune of Rs 150 crore.
According to the police, the accused — Tekula Mukthi Raj and Gattagalla Bhasker — changed the firm’s name from Real Life Infra Developers to Multyjet Trade Private Limited in August this year.
The company invited people to invest in commodity trading by offering 2% to 3% returns on their investments on a daily basis.
The accused had developed a website where investors’ IDs were created to give them access to trade trends. Once the investors logged in, it reflected the amount invested, which they could use for trading 11 commodities available on the website.
Cops said the accused collected data on the latest trends from one of their friends in Mumbai and used the same information on their website to adjust profit figures accordingly.