In a major breakthrough, the Telangana Cyber Security Bureau (TGCSB) arrested four individuals in connection with a large-scale business investment fraud that cheated a Hyderabad-based software employee of Rs3.49 crore.
The arrested accused have been identified as Avula Srinivas (45) from Meerpet, Kukkala Sathish Kumar (41) from Mahabubabad, G. Rajender (50) from Warangal, and Vatti Michael Reddy (49) from Karimnagar.
According to officials, the accused allegedly lured the victim with promises of high returns through fraudulent investment schemes. After gaining the victim’s trust, they siphoned off a total of Rs3.49 crore.
During the operation, TGCSB officers seized four mobile phones, two cheque books, and three debit and credit cards from the accused. These items are believed to have been used in carrying out the fraudulent transactions.
Further investigation is underway to trace additional financial links and determine whether more victims are involved in the scam. Authorities are also examining possible connections to a wider cyber fraud network.
