Hyderabad Cybercrime police arrested six members of a gang that duped a woman of over Rs 1 crore in a fake online investment scam. Fraudsters posed as NSE officials, used fake apps, and laundered money through multiple bank accounts
Updated On – 22 August 2025, 02:55 PM
Hyderabad: The Hyderabad Cybercrime police arrested six members of an organised gang involved in an online investment fraud case worth over Rs 1 crore on Thursday.
The suspects are identified as A Harsha Vardhan, K Venu, M Pradeep, P Vinodh Yadav, P Vamshi and M Laxman.
The case was registered based on a complaint by a 34-year-old woman from Tarnaka, who was allegedly duped between January and July 2025.
Fraudsters posing as officials of the NSE and Coin SSDCX contacted her through Instagram and Telegram, luring her into fake online tasks and trading investments.
According to the police, initially, small amounts were credited to her account to build trust. Later, she was persuaded to transfer large sums for investment targets and tax clearance.
In total, she transferred nearly Rs 1,05,03,752 across various bank accounts. Though her trading app showed a balance of Rs 6.05 crore, no refunds were made.
“Fraudsters approached victims through Instagram, Telegram, WhatsApp calls and messages. They impersonated officials of reputed companies and used professional language. Fake investment dashboards and apps were created to display false profits,” a senior cybercrime official said, adding that once money was transferred, victims were blocked from further communication.
Investigations revealed that the arrested men opened and operated over 50 bank accounts to launder the cheated funds. These accounts were used to withdraw cash and purchase cryptocurrency, which was then transferred abroad to the key suspect, Chen Chen of China. The accused earned commissions for each transaction and cash withdrawal.
Public Advisory
- Be cautious of unsolicited investment offers via WhatsApp, Telegram or social media.
- Genuine companies do not directly approach individuals for investments.
- Fraudsters often show fake profits to gain trust.
- For immediate help in cybercrime cases, citizens can dial 1930 or report at cybercrime.gov.in.
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