Hyderabad: A major cyber fraud network operating under the guise of online gaming and betting has been busted in Hyderabad, exposing illegal financial transactions worth over ₹26 crore. Four accused have been arrested in connection with the case, while two others remain absconding.
The arrested individuals have been identified as Rajesh Venkata Raman, Bhamidipati Abhishek, Augustene Williams, and Manmeet Sharma alias Sonya. Preliminary investigations reveal that the group facilitated large-scale financial transactions for illegal betting platforms by creating a complex system of payment gateways and mule bank accounts. These channels were used to route funds and obscure the origin of transactions.
FCRF Launches Premier CISO Certification Amid Rising Demand for Cybersecurity Leadership
The case came to light after a 24-year-old woman from Hyderabad filed a complaint stating that she was lured into the scheme through an Instagram advertisement. According to investigators, the victim was redirected to a gaming platform via WhatsApp, where she was initially allowed to withdraw small amounts to build trust. Once confidence was established, she was persuaded to deposit larger sums. Over time, she transferred money through multiple UPI transactions. Eventually, her bank account was flagged for suspicious activity and frozen, leaving her with a loss of nearly ₹30 lakh and restricted access to her remaining funds.
Further investigation uncovered that the accused had developed fake payment gateways under names such as CloseX Pay, Trustly Pay, and Accult Pay. These platforms enabled seamless transactions via UPI, IMPS, and card payments, while the operators charged commissions on each transfer. To avoid detection, mule accounts were opened in the names of shell companies using fabricated documents. Funds were then routed through multiple layers, making it difficult for authorities to trace the money trail.
Officials stated that the network handled transactions exceeding ₹26 crore across various betting websites, with commissions distributed among the members involved. Authorities are now working to trace the complete financial trail and apprehend the remaining accused, identified as Andy alias Shaheer and Rushabh Jasvantrai Gandhi.
During the operation, law enforcement agencies seized four laptops, six mobile phones, nine cheque books, two shell company stamps, and ₹6.5 lakh in cash, indicating the scale and sophistication of the operation.
Cybercrime experts warn that such frauds are increasingly leveraging social media platforms to target unsuspecting users. Renowned cybercrime expert and former IPS officer Prof. Triveni Singh noted that such networks rely heavily on social engineering tactics.
“These fraudsters first build trust by offering small profits and then manipulate victims into making larger investments, leading to significant financial losses,” he said.
Authorities have urged the public to exercise caution while engaging with online gaming and betting platforms, noting that such activities are often illegal and designed to exploit users. They emphasized that individuals should verify platforms thoroughly and avoid sharing financial details or transferring money based on unsolicited offers.
