HYDERABAD: An over Rs 700-crore investment-cum-part-time job fraud run by Chinese handlers with alleged links to the Lebanon-based Hezbollah terror group was unearthed by the cybercrime wing of Hyderabad police on Saturday. The terror funding tip-off came from a crypto agency, which flagged suspicious bitcoin credits in wallets of the terror group, said police.
Thousands of people across the country were scammed for over a year by conmen, who executed task-based investment-cum-part-time job frauds and offered handsome returns for simple tasks of liking Youtube videos or writing Google reviews. Nine people from across India have been arrested. Those arrested include four from Hyderabad — Mohammad Munawar, Arul Das, Shameer Khan and Shah Sumair. Others in the net are Prakash Mulchandbhai Prajapati and Kumar Prajapati from Ahmedabad and Gagan Soni, Parvez alias Guddu and Naimuddin Sheikh from Mumbai.
Hyderabad police commissioner CV Anand said one of the victims, Shiva Kumar of Hyderabad, told cybercrime sleuths in April that he was duped of Rs 28 lakh. When investigators followed the money trail, they zeroed in on 48 bank accounts of shell companies and the money was pegged at Rs 584 crore, robbed from gullible investors. “One of the accounts was registered in the name of Hyderabad-based Radhika Marketing Company. A cellphone number was registered against the account in the name of Munawar,” said police. Police found Munawar and his aides Arul Das, Shah Sumair and Shamir Khan went to Lucknow on directions of Manish, Vikas and Rajesh, all residents of the UP capital, to open bank accounts of shell companies operated in their names. “They were offered Rs 2 lakh for opening a bank account of a shell company. They opened 61 accounts of 33 shell companies and handed over documents and access information to Manish. More accounts with Rs 128 crore were later traced,” said Anand. While analysing transactions, police stumbled upon cross-border deals with some accounts operated from Dubai-based IP addresses. “A Gulf-based group with links to the Chinese network was operating the Indian accounts and transferring money into crypto wallets,” said Anand. The key Ahmedabad-based accused, Prakash and Kumar Prajapati, had crypto wallets from which money was transferred abroad. The Hyderabad police and home ministry’s Cybercrime Coordination Centre found that a portion of the money was deposited in a crypto account allegedly operated by Hezbollah. “Prakash Prajapati has a hotline with his Chinese handlers. He coordinates with them by sending details of Indian bank accounts and shared OTPs to operate these accounts from Dubai or China through remote access apps,” the police commissioner said.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
