Hyderabad: The city police nabbed five persons on charges of stealing cash by diverting the attention of a person in the name of exchanging crypto currency.
The police said that one P Sai Prasad Reddy lodged a complaint stating that a student Syed Maaz Hussaini came in contact with him through an app in connection with crypto currency. Maaz informed him that his friend Syed Irfan is having USDT crypto currency worth Rs.10 lakh and is ready to sell at low price.
Reddy arranged Rs.6.40 lakh and met Maaz and Irfan on July 24 at Paramount Colony. They took him to a travel office at Ahmed Manzil in Paramount Colony where four unknown persons were present inside.
An unknown person took Rs.6.40 lakh from Reddy and a few minutes later other unknown persons started counting the cash. They informed him to wait for sometime to directly transfer the USDT to his trust wallet (Trading Account).
Though he waited for a long time, the amount was not credited to his wallet. He then suspected the reasons for delay when two persons started quarrelling with each other and diverted Reddy’s attention. Meanwhile, two other members took his cash bag and fled the office.
Based on a complaint, the police booked a case and arrested Mohd Bilal (28) of Bahadurpura, Md Abdul Azam (30), Mohd Jameel Ahmed (25) and Syed Maaz Hussaini (23), all residents of Tolichowki, and Mohd Iqbal (30) of Shamshabad.
The police recovered Rs.7.55 lakh from the possession of the arrested persons. Four more persons – Abdul Shahed, Syed Kaleel Ahmed and Mohd Akhil Ahmed, all residents of Tolichowki and Syed Irfan of Golconda are absconding.
