Hyderabad cybercrime police have arrested six individuals for orchestrating a large-scale cyber fraud, where a 34-year-old woman from Tarnaka was cheated of nearly Rs 1 crore. The fraud took place between January and July 2025, when the victim was approached online with the promise of high returns on investments.
The scammers posed as representatives of the National Stock Exchange (NSE) and contacted the victim through Instagram, Telegram, WhatsApp messages, and calls. Initially, they built trust by showcasing fake profits through fabricated trading platforms, eventually convincing her to transfer large sums of money.
Arrest of Six Accused
The arrested accused have been identified as Addulapuri Harsha Vardhan, Konduru Venu, Mylaram Pradeep, Pachipala Vinodh Yadav, Parasanaboina Vamshi, and Mangali Laxman. They were booked under Sections 66C and 66D of the Information Technology Act, along with several provisions of the Bharatiya Nyaya Sanhita (BNS), including Sections 111(2)(b), 318(4), 319(2), 336(3), 338, and 340(2).
Investigations revealed that the group worked in coordination to channel the victim’s funds through multiple bank accounts. Their handler, identified as Chen Chen, managed the proceeds and distributed commissions among the accused.
How the Fraud Operated
The fraudsters used fake websites to display misleading profits, giving the victim confidence to continue investing. Once she deposited significant amounts, they cut off all communication. The group also circulated ATM cards among themselves, with each earning a 4 percent cut when the card was passed on.
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Seizure of Items and Police Action
During the arrests, police recovered 15 debit cards, three passbooks, one cheque book, eight mobile phones, a fingerprint machine, and a scanner. Authorities stated these were used to facilitate the fraudulent transactions and manage the siphoned money.
Warning from Authorities
This case highlights the growing sophistication of cybercrime in India, where criminals are using social media platforms to trap unsuspecting individuals. Police have urged citizens to remain alert, avoid falling for “guaranteed profit” schemes, and verify the authenticity of investment opportunities before transferring funds.