In a recent breakthrough, the Telangana Cyber Security Bureau (TGCSB) arrested two men involved in a major cyber fraud case. The duo, R Kondal Rao and his brother R Chandrasekhar Azad, both directors of Ricky Software Tech Pvt Ltd, were apprehended in Vijayawada on Saturday. Police confirmed that Rs3.47 crore from the victim’s account was transferred into the suspects’ company account during the fraudulent operation.
The case came to light less than a month after a victim reported losing Rs5 crore to a sophisticated cyber scam. According to officials, the fraudsters had targeted the victim through an elaborate scheme involving fake financial transactions and online platforms, leading the victim to transfer large sums to various accounts.
The authorities tracked the suspicious transactions to the current account of Ricky Software Tech Pvt Ltd, where the victim’s money was laundered. The police are continuing their investigation and believe the suspects may be part of a larger network involved in similar crimes across the region.
In a statement, officials from the Telangana Cyber Security Bureau emphasized their commitment to cracking down on such cyber frauds and urged the public to be cautious while dealing with online financial transactions.
