Hyderabad, April 21 -- The Cyber Crime Unit of Hyderabad Police arrested a 22-year-old man from Navi Mumbai for his alleged involvement in a high-value online investment fraud on Monday. The fraud cost a Hyderabad resident over Rs2.43 crore.

The accused, identified as Rashmit Rajendra Patil, a private employee residing in Navi Mumbai, played a key role in the scam. He is said to be the account supplier. He was apprehended by a special police team, assisted by other officers from the Cyber Crime wing.

According to the press release, the victim, a 56-year-old man from Hyderabad, was referred to the SAMCO Securities and IIFL applications through social media. He downloaded and logged in to these applications to invest the money for earning...