Hyderabad, April 21 -- A 23-year-old man has been arrested by cyber crime unit of the Hyderabad police for allegedly being involved in an online investment scam that duped a 68-year-old Hyderabad resident of Rs 52,29,500.

The accused has been identified as Prateek Shukla.

According to reports, the complainant told police that he was added to a WhatsApp group named "VIP 5paisa Group," where individuals impersonating stock advisors identified as Priya Agrawal and Gourav Munjal lured him into investing in bogus stocks, IPOs, and OTC trading via a fake app.

Fake profit screenshots were shared in the group, presumably populated by gang members posing as investors, to build trust.

Believing the promises of high returns, the victim deposited...