Hyderabad Cybercrime Police arrested M Prabhakar, a 30-year-old man from Chandanagar, in connection with an online gaming fraud involving a total of Rs 20 lakh.
Prabhakar, who is suspected to be involved in several fraud cases across India, acted as a bank account supplier and the creator of merchant IDs for fraudulent gaming websites. Authorities discovered that he had opened over 80 current bank accounts using 11 shell companies and supplied these accounts to a fake gaming website that scammed users.
The fraud came to light after a 30-year-old victim from the city reported losing Rs 20 lakh. The victim had been promised large returns on investments by playing or investing in an online gaming app. Initially, the victim saw positive returns, but soon after, his accounts were blocked, and he was prevented from withdrawing any of the funds.
Investigators have linked M Prabhakar to the fraudulent operation, and the case is still under investigation. Authorities are looking into further connections to the scam and whether other victims may have been affected by the same fraud scheme.
