Rs. 712 crore Chinese investment fraud exposed by Hyderabad police

Hyderabad police arrested nine individuals and exposed a massive investment fraud of Rs. 712 crore involving Dubai-based Chinese operators. The accused, hailing from Mumbai, Lucknow, Gujarat, and Hyderabad, are suspected to have connections with fraudsters from Dubai and China.

The gang allegedly targeted unsuspecting investors in India and funneled the defrauded money, converted into cryptocurrency, to China via Dubai. Hyderabad Police Commissioner C. V. Ananda revealed the significant financial crime, which has raised concerns about the use of cryptocurrency in fraudulent activities.