Check How Rs 712 Crore Chinese Scam was Exposed by Hyderabad Police

A major Rs 712 crore investment swindle with Chinese handlers at the helm has been revealed by Hyderabad cybercrime police. According to a ToI investigation, the breakthrough occurred when Chinese fraudsters were unable to delete data from one of Prakash Prajapati’s phones, an Indian accomplice of the thieves, since the phone was in flight mode.

When Prakash was detained by the authorities at an airport while carrying two phones, his problems started. His contacts in Dubai and China became worried that he could be in the hands of security agents after he stopped responding to their messages. They remotely erased data from one of his phones in order to delete all traces of him.

However, investigators were able to examine the second phone and found vital communication and bank account information, which allowed them to make the startling discovery of the Rs 712 crore crime. According to officials, the scam may have been even more extensive if the data on the first phone hadn’t been deleted.

In Dubai, where he lived with his family, Prakash was treated royally by his Chinese managers. Prakash’s passport indicated that he had visited China and Dubai on a business visa, suggesting that he was involved in the scams.

Authorities believe there may be other Indians like Prakash involved in helping Chinese people set up bank accounts for similar fraudulent operations since the investigation is still underway. 

Additionally, the police have found Prakash-related cryptocurrency wallets where the funds from Indian depositors were exchanged for cryptocurrencies. His previous passport is being examined to glean further information about his travel history