ED arrests 4 in Bengaluru for cheating people of Rs 25 crore in cyber investment scams

The Enforcement Directorate (ED) said on Monday that it has arrested four Bengaluru residents in a case related to cyber investment scams, adding that the accused siphoned about Rs 25 crore from people after they were lured to invest in the stock market through fake and fraudulent apps.

The central agency identified the arrested accused as Shashi Kumar M, 25, Sachina M, 26, Kiran SK, 25, and Charan Raj C, 26. All four were involved in the incorporation of companies and opening of bank accounts through which proceeds of crime generated from cyber scams were laundered, the ED said.