The Cyber Crimes Wing of Cyberabad Police has apprehended six members of an inter-state trading fraud syndicate involved in providing mule bank accounts and SIM cards to operators running fraudulent online trading platforms. Preliminary investigations reveal that the network is connected to dozens of cyber fraud cases across India, causing victims a total estimated loss of over ₹1.09 crore. Police recovered seven mobile phones, 11 SIM cards, and three cheque books from the accused.
Identified Accused
The arrested individuals are Venigalla Srinivas Rao (52), Chitta Ganesh (45), Gandluru Naveen Kumar Reddy (33), Sathuri Rajesh (41), Maddiralla Sudheer (50), and Mohammad Ashraf (39).
According to police, the gang obtained bank accounts, cheque books, and SIM cards from various individuals and supplied them to online trading scam operators. Victims were lured with fabricated dashboards and profit statements and induced to transfer money into mule accounts, which were subsequently used for large-scale financial transactions for commission.
Evidence from Investigation: Forensic analysis of seized devices revealed images of 60 cheque leaves and digital evidence linking the network to nearly 400 cyber fraud incidents nationwide, including three within Cyberabad. Investigators found that Srinivas Rao and Ganesh sourced the accounts, while Naveen Kumar Reddy handled documentation and onboarding of account holders.
Police stated that the accounts were later passed on to Sathuri Rajesh, who allegedly earned ₹1 lakh per ₹1 crore transaction volume and ₹10,000 per account. Rajesh reportedly routed the accounts to Maddiralla Sudheer and Mohammad Ashraf, who earned a 2% commission. Sudheer shared specific account credentials for a 5% commission, while Ashraf allegedly transmitted multiple accounts to overseas operators via Telegram using the ID ‘Sybo_pay’.
Legal Action and Ongoing Investigation
Cases have been registered under multiple provisions of the Indian Penal Code and Section 66-D of the Information Technology Act. Further investigation will continue after securing police custody of the accused, with efforts underway to trace absconding members of the network.
Public Advisory
Authorities have cautioned the public against sharing or renting out bank accounts, SIM cards, ATM cards, or OTPs for monetary gain, emphasizing that such acts constitute criminal offences and attract strict legal consequences.
Expert Commentary
Cybercrime experts say such gangs exploit digital platforms and seemingly legitimate online trading transactions to defraud unsuspecting users. Public awareness and preventive measures are critical to curb misuse of personal bank accounts and SIM cards.
Cyberabad Police’s action sends a clear message against the misuse of bank accounts and SIM cards for online fraud. The recovered digital evidence and arrested suspects are expected to help prevent similar scams in the future.
