India News | Hyderabad: 5 Arrested in Rs 25 Lakh Robbery in Crypto Deal

Hyderabad (Telangana) [India], October 17 (ANI): Nampally Police have arrested five people on Saturday for allegedly robbing Rs 25 lakh in cash from the complainant by luring them with a deal to convert Indian currency into USDT cryptocurrency.

Cash worth Rs 11.5 lakh and three mobile phones were seized from the accused.

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According to the police, the robbery took place on October 11 in an office near Himalayan Hotel at Bazarghat in Nampally. The complainant and his associates had gone there with Rs 25 lakh in cash for the proposed transaction. Police said one of the accused sprayed pepper spray on one of the purchasers while another attacked a second person, and the accused fled with the cash.

A case was registered under Section 310(2) of the Bharatiya Nyaya Sanhita (BNS) at Nampally Police Station.

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The 5 arrested on Saturday are Syed Ajaz alias Goli (31), a driver from Vijaya Nagar Colony in Hyderabad; Syed Zakariya Ahmed alias Shafez (26), a water purifier repair worker from Attapur; Sumair Khan (26), a band worker from Old Malakpet; Guglavath Vijesh Kumar (30), a male nurse from Nirmal district; and MD Faraz Hussain (31), a car mechanic from Bazarghat, Nampally. 

Police said Ajaz and Zakariya are rowdy-sheeters with several earlier cases against them, including cases of murder, attempt to murder and robbery. Sumair Khan also has earlier cases.

Police said the alleged conspiracy was hatched by an absconding accused, Hameed alias SD Bhai, who planned to rob people looking to buy USDT. 

The victim allegedly came into contact with Hameed through a mutual female contact and identified buyers who were ready with cash. Ajaz allegedly introduced Sumair Khan to Hameed and coordinated with the others. Zakariya allegedly agreed to pose as an office executive and use the pepper spray, while Sumair coordinated with the buyers through Vijesh. Faraz allegedly arranged the keys to the office. After the robbery, the accused gathered near Mir Alam Tank in Chintalmet, where the cash was counted and shared out among some of them, police said.

Police recovered ₹11.5 lakh in cash and three mobile phones from the accused. Two others, Mohammed Faisal and Hameed alias SD Bhai, are absconding, and police are trying to trace them. Police said an unidentified woman who spoke to the victims by phone is also among the accused.

Deputy Commissioner of Police, Khairatabad Zone, Shilpavalli appreciated the Nampally Police team for detecting the case and recovering a substantial part of the cash within a short time.

Further investigation is under way.  (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)