Hyderabad's Cyber Crime Police recently arrested four individuals in connection with an extensive online trading fraud operation. The arrests, made across Bhimavaram in Andhra Pradesh and Pocharam in Hyderabad, followed an investigation into a complaint filed in April by a woman who lost Rs 37,40,000 after being lured into a fraudulent investment scheme.
Police apprehended Maroju Subramanya Chari, Gedela Nani, and Alamanda Manikanta initially in Bhimavaram. Subsequent inquiries led officers to Pocharam, Hyderabad, where they took Panduraju Abhishek into custody. The investigation began after a woman reported on April 4 that WhatsApp contact had enticed her into bogus trading platforms, resulting in the significant financial loss.
Investigators revealed Abhishek's central role, driven by personal financial difficulties. He reportedly connected with a Chinese national via WhatsApp, who offered him a commission based on transactions routed through "mule" bank accounts and SIM cards. Abhishek then recruited the other three men, promising them Rs 10,000 for each bank account and associated SIM card. He would then insert these SIMs into his mobile phone to transfer illicit proceeds between mule accounts, acting on instructions from the Chinese contact. Abhishek allegedly earned a 4 per cent commission on these transferred amounts, which he would withdraw from ATMs.
Authorities confiscated nine mobile phones, ten debit cards, six bank passbooks, and eight cheque books from Abhishek's possession. The ongoing probe has unearthed a much larger criminal network, with approximately 54 similar cases registered nationwide. These cases involve suspected fraudulent transactions totaling an estimated Rs 10 crore.
Police registered the case under various sections of the IT Act, including 66(C) and 66(D), alongside sections 318(4), 319(2), 336(3), and 340(2) of the Bharatiya Nyaya Sanhita (BNS), pertaining to cheating, personation, and forgery.
Image: siasat.com
📰 Source: Siasat Gulf