6 months ago
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Four individuals were arrested by the Telangana Cyber Security Bureau (TGCSB) successful transportation with a large-scale concern business fraud successful which a Hyderabad-based bundle worker was cheated of ₹3.49 crore. During the operation, constabulary seized 4 mobile phones, 2 cheque books and 3 debit and recognition cards from the accused.
The accused were identified arsenic Avula Srinivas, 45, a nonmigratory of Meerpet; Kukkala Sathish Kumar, 41, a nonmigratory of Mahabubabad; G. Rajender, 50, a nonmigratory of Warangal and Vatti Michael Reddy, 49, a nonmigratory of Karimnagar.
According to the police, Michael Reddy was the holder of a existent relationship opened with Axis Bank successful the sanction of Thanish Consultancy Private Limited, done which a information of the cheated magnitude was routed. The probe revealed that the accused were portion of a radical that procured and supplied slope accounts to cyber fraudsters successful instrumentality for commission.
The lawsuit came to airy pursuing a ailment by a bundle worker residing successful L. B. Nagar connected November 17. The fraud unfolded connected August 20, 2025, erstwhile helium was added to a WhatsApp radical titled “305 Stock Market News” by an chartless pistillate utilizing the sanction Aarohi. The radical was filled with posts claiming precocious returns from banal marketplace investments, organization stocks and IPOs. After observing the radical enactment for respective days, the unfortunate contacted the admin to articulation the concern programme connected September 22, 2025.
Police said the unfortunate was persuaded to put done a level named “Nuvama”, accessed via a WhatsApp link, and was asked to stock idiosyncratic details done a Google form. He was assured that a precocious nett worthy idiosyncratic relationship would beryllium created successful his sanction and that trading successful organization stocks, over-the-counter deals and IPOs would beryllium carried retired connected his behalf. The fraudsters promised exceptionally precocious returns and said a work interest would beryllium charged lone if profits crossed a definite threshold (20% work interest for 850% profit).
The unfortunate initially invested ₹50,000 successful September and was shown humble profits connected the app. Encouraged by this, and pursuing repeated persuasion, helium went connected to put a full of ₹3,49,20,004 implicit a play of astir 50 days. He was adjacent allowed to retreat ₹12 lakh astatine 1 signifier to physique confidence. The trading relationship aboriginal showed insubstantial profits moving into respective crores.
Trouble began erstwhile the unfortunate attempted to retreat his funds successful November. The fraudsters demanded a 20% work interest and aboriginal extracted ₹30 lakh from him connected the committedness of releasing ₹3 crore. Despite this payment, further demands were made nether assorted pretexts, including alleged indebtedness charges, and the withdrawal was blocked, prompting him to attack the cyber transgression police.
During the investigation, constabulary traced portion of the wealth way to the Axis Bank relationship held by Thanish Consultancy Private Limited. Bank records revealed that the relationship had been opened by Vatti Michael Reddy, a nonmigratory of Karimnagar. He was apprehended astatine his residence and brought to Hyderabad, wherever helium was remanded to judicial custody. Based connected his confession, the different 3 accused were arrested and produced earlier the tribunal connected December 18.
Police said Avula Srinivas had earlier established a bundle steadfast by the sanction ;NC Software solutions’ successful Dubai and allegedly acted arsenic a conduit aft agreeing to supply existent slope accounts to cyber fraudsters successful speech for 25% commission. He allegedly coordinated with the different accused to proviso Michael Reddy’s slope relationship details to unidentified fraudsters, who carried retired high-value transactions successful a azygous day.
Investigators recovered that arsenic galore arsenic 94 complaints had been registered connected the National Cybercrime Reporting Portal against the account, with full transactions amounting to implicit ₹6.29 crore.
Efforts are nether mode to hint the remaining accused progressive successful the fraud. The Telangana Cyber Security Bureau has appealed to the nationalist to stay cautious and study immoderate individuals seeking the usage of slope accounts for transferring money, informing that specified requests are often linked to cyber fraud.
