Hyderabad: The Detective Department brought a 23-year-old web developer to the city on Saturday after his arrest in Gujarat on Wednesday for cheating people on pretext of false online forex trading to the tune of Rs 2 crore.
Police officials identified the accused as Asmir Arif Aghadi, who, along with another person, created fake accounts of their customers on a different server, without the knowledge of the client.
Asmir would lure people with high returns on their investments and convince them to invest in online forex trade, for which he has created an account.
The police said that Asmir maintained different servers. In one, he created and maintainedfake accounts of customers projecting high returns and profits.
Another server, that was maintained by Asmir, showed the real projections of profits and investments, but customers were not aware of the second account.
According to the police, since Asmir never used his real name, they found it difficult to trace him.
Officials also said that Asmir pursued customers to make payment in cash by way of hawala to evade high taxes.
A case was registered against him on the complaint of Dr P. Dinesh from Secunderabad who lost Rs 2 crore after being cheated by Asmir.
Dinesh said that Asmir had pursued him and cheated him of money on different ocassions and had gone underground when he tried to recover money from him later, according to the officials.
