Hyderabad Police have cracked down on a massive organized financial fraud operated by AV Solutions, arresting two key figures involved in the scam. Gaddam Venugopal, director of AV Solutions and Srinivas Analytical Pvt. Ltd. from Prakasam District, Andhra Pradesh, and Shreyas Paul from Ballari, Karnataka, were apprehended in Hyderabad on August 19.
The accused ran an elaborate Ponzi scheme, promising steady monthly returns through AI-powered investment platforms that deceptively claimed to predict stock market trends. Their operation duped over 3,000 investors across multiple states between 2022 and 2025, amassing a total collection of Rs850.59 crore, with fraudulent retention amounting to Rs232.36 crore.
Police seized two luxury cars, 11 laptops, three mobile phones, backend trading access, 14 cheque books, 30 promissory notes worth Rs3.37 crore, property documents, company seals, and flats at Manikonda and Happy Homes. Investigations revealed benami transactions and extensive use of fake certifications from organizations like NISM, NSE, and BSE to lend credibility.
The fraudulent network included more than 20 consultants and agents, technical developers, and website administrators. The accused companies included IIT Capital Technologies, AV Solutions, Srinivas Analytics Pvt. Ltd., and Trade Bulls Technology Pvt. Ltd., with fake registered addresses. They operated websites such as www.tradeonnumbers.com
www.smalgo.com
www.srimaata.com
and www.maheshwaraadvisoryservices.com
DCP Crime A Muthyam Reddy stated the scam primarily targeted middle-class families, retired individuals, and working professionals through referral-based recruitment and psychological profiling, exploiting investor vulnerabilities. The police continue their investigation to unearth more details and recover defrauded funds.
