HYDERABAD: The Cybersecurity Bureau on Thursday arrested four persons —Avula Srinivas, Kukkala Sathish Kumar, G Rajender and Vatti Michael Reddy — in connection with an investment fraud in which a victim was cheated of Rs 3.49 crore.
Police said the accused supplied bank accounts to cyber fraudsters. The probe revealed that Michael Reddy held a current account in a private bank through which a portion of the defrauded amount was routed.
Investigators said Srinivas established a software company in Dubai and stayed there for some time in 2024, during which he befriended a man from Rajasthan. After returning to India in October 2025, Srinivas was contacted by the same person, who offered him a 25% commission for arranging current bank accounts.
Investigators found that 94 NCRP complaints were linked to Michael Reddy’s account, involving transactions totalling Rs 6,29,64,433.
In a separate incident, the police foiled a digital arrest fraud attempt and prevented a loss of Rs 18 lakh to a retired school teacher.
Victim loses Rs 1.67 lakh in ‘New Year offer’ scam
Hyderabad: A 35-year-old private employee from Yousufguda lost Rs 1.67 lakh after falling prey to a cyber fraud involving a fake New Year offer purportedly from DMart. The victim received a link from a neighbour on WhatsApp on December 16. The link claimed to offer discounted purchases as part of a New Year promotion. When he clicked on it and attempted to buy items, the website sought his credit card details. Soon after he entered the details, Rs 1,67,600 was debited from his credit card.
Two notorious cyber crooks arrested
Hyderabad: Police arrested two persons in a digital arrest fraud case in which a retired employee was duped of Rs 59 lakh. Police said the accused are involved in 65 cyber fraud cases across several states, including Karnataka, Maharashtra, Delhi, Tamil Nadu, Uttar Pradesh and Gujarat. On December 4, the victim received calls from an unknown number, impersonating police. The fraudsters falsely accused him of involvement in human trafficking and other crimes and sent forged arrest warrants via WhatsApp to intimidate him.