Man arrested in investment scam from Anakapalle Mandal in Andhra Pradesh. (ETV Bharat)
Chennai: Police have arrested a key accused in Andhra Pradesh involved in an online investment scam worth crores of rupees that promised people hefty returns on their investments.
Police arrested Konathala Krishna, 52, from Anakapalle Mandal, Andhra Pradesh. The arrest was made on October 6, and the accused has been remanded to judicial custody.
For the scam, a WhatsApp group had also been operating with claims being made that 50 members of the group had booked huge profits on their investments.
A retired bank employee also fell into the trap and lost the money while the fraudsters did not pay any profit as promised.
Realising that he had been cheated, he registered a complaint on the cyber crime hotline 1930 in 2025. Subsequently, he also registered a complaint with the Chennai Metropolitan Police Commissioner’s office.
Based on the complaint, the Chennai Central Crime Branch police registered a case and conducted an investigation.
Earlier, the Chennai Metropolitan Police Commissioner ordered the arrest of the accused, who had been absconding. On the instructions of the Additional Commissioner of Crime Branch, a special team was formed under the supervision of a Cyber Crime Branch officer.
The special police team camped in Visakhapatnam and conducted surveillance to arrest the accused. During the investigation, it was revealed that the money had been transferred to several accounts. Police said that about Rs 21 lakh has been recovered in this case so far.
Meanwhile, the Cybercrime Police have warned not to share bank account details, SIM card, cellphone, and internet banking passwords with others. The police have said cybercriminals have created a large network with the help of various agents and are duping people by running operations from abroad.
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