Hyderabad, April 1 -- The Hyderabad Cyber Crime Police have arrested an accused, Shiva Shankar, involved in an online stock trading scam that defrauded a private employee from Hyderabad of over Rs14.6 lakh. The fraudster contacted victims through social media, promising high returns on stock investments. The case highlights the growing issue of online scams targeting unsuspecting investors, according to a release by Dy. Commissioner of Police Cyber Crimes.

The accused is allegedly involved in two cases across India and one case in Telangana, was arrested under various sections of the IT Act and the Indian Penal Code. He is the account holder and supplier in the fraudulent activities.

According to a police official," The victim, a 35-yea...