Dubai-Linked Cyber Scam Busted: ₹50 Lakh Online Fraud Unraveled in Hyderabad
The accused initially contacted the victim via phone calls, introducing themselves as representatives of a well-known business consultancy firm.

Hyderabad: The CCS Cyber Crime Police, Detective Department, Hyderabad has busted a major online investment fraud and arrested three individuals from Maharashtra. The accused—Milind Manohar Narkar, Rank Jagdish Patel, and Salik Imtiaz Ahmed Siddiqui—allegedly posed as trade advisors of “Aveshta Study Group-W” and defrauded the complainant of approximately ₹50 lakh.
On June 30, 2025, the victim lodged a complaint with the Cyber Crime Police, stating that a group of fraudsters impersonated representatives of reputed companies and deceived him through a network of bank accounts. They lured the victim with promises of high returns on investments.
The accused initially contacted the victim via phone calls, introducing themselves as representatives of a well-known business consultancy firm. They convinced the victim to transfer money to designated bank accounts, promising quick and substantial profits.
However, when the victim requested to withdraw his returns, he was informed that a 20% service charge had to be paid before receiving the capital and accumulated profits. Ultimately, the accused defrauded the victim of over ₹44 lakh using this deceitful scheme.
Details of the Arrested Individuals
- Milind Manohar Narkar (34) – Private employee, Mumbai
- Rank Jagdish Patel (31) – Businessman, Bhiwandi
- Salik Imtiaz Ahmed Siddiqui (25) – Private employee, Mumbra
The police recovered three mobile phones from the possession of the accused.
Investigations revealed that the accused were working on a commission basis with cyber fraud syndicates based in Dubai. Milind Narkar was responsible for converting the defrauded funds into cryptocurrency and transferring them abroad. He also arranged accommodation for account holders and facilitators in various hotels in Mumbai. Further, he is suspected of involvement in cryptocurrency operations across seven other Indian states.
The operation was conducted under the leadership of Inspector B. Srinivas, SIB Parnitha, and their team, under the direct supervision of Commissioner of Police Sri V. Jayapal Reddy. The case has been registered under Cr. No. 1181/2025 at the Cyber Crime PS, Hyderabad.
Warning and Precautions for the Public
- Be cautious of online investment schemes promising unrealistically high returns in a short time.
- Verify the authenticity of stock trading tips, investment apps, and platforms found on social media.
- Avoid investment schemes that are not approved by SEBI.
- Fraudsters often present fake SEBI certificates and screenshots of fictitious profits to lure victims.
- Research thoroughly and think carefully before making any financial investment.
- If you fall victim to cyber fraud, immediately call 1930 or visit cybercrime.gov.in to file a complaint.