HYDERABAD: Hyderabad cybercrime police arrested four individuals for their alleged involvement in a financial network linked to online gaming frauds.
Police said a 24-year-old woman lodged a complaint stating she lost money after investing in a betting platform. Following registration of the case, an investigation led to the identification and arrest of the accused.
According to police, Hyderabad-based Rajesh Venkata Raman and Gujarat resident Rushabh Jasvantrai Gandhi are directors of One Stop Shopping Station Private Limited. They allegedly created payment gateways to facilitate transactions through IMPS, UPI, credit and debit cards, charging a commission of 2% to 3% on each transaction.
Rajesh had hired Bhamidipati Abhishek and Augustene Williams to manage these payment gateway operations. Police said a Delhi-based individual, Andy alias Shaheer, opened mule accounts in the names of fake companies and shared the KYC details with Manmeet Sharma.
Manmeet Sharma then passed on the documents to Bhamidipati Abhishek, who forwarded them to Suryodaya Bank officials in Ahmedabad. The bank allegedly provided payment gateway services, charging a commission of 0.75%.
Police said betting amounts were routed through the payment gateways operated by Rajesh Venkata Raman, who retained a 5% commission along with an additional 5% share for Sonya and transferred the remaining funds to Andy’s accounts.
The accused are alleged to have transacted Rs 26.07 crore through betting websites. Efforts are underway to trace the money trail and apprehend absconding accused Andy and Rushabh Jasvantrai Gandhi.
34-year old techie loses Rs 1.55 crore in trading scam
Hyderabad: A 34-year-old software employee from Golconda was duped of Rs 1.55 crore after investing in a fake trading platform. Police said he was added to a WhatsApp group and promised high returns within a short period, inducing him to invest money.
Group members shared screenshots showing large profits, while administrators repeatedly urged him to invest more to earn higher returns.
One of the accused allegedly instructed him to download fake investment apps, which displayed fabricated trading activity and profits to gain his trust.
Believing the claims, he began investing. The victim said the apps initially showed fake profits. However, when he refused to make further payments and sought withdrawal of his investment along with profits shown as Rs 2,40,00,000 on the app, he was asked to pay an additional Rs 30 lakh under various pretexts, including taxes, withdrawal charges and account verification fees.
When he demanded a refund, the accused stopped responding and cut off all communication. Realising he had been cheated, he approached Hyderabad cybercrime police, who registered a case.