Telangana Police arrested five individuals involved in Rs 4,23,65,000 cyber scam

A sophisticated fraud network has been pulled apart by the Telangana police. Five individuals, a part of the cybercrime syndicate, were arrested from Kerala. They manipulated money transfers across over 200 bank accounts, siphoning off a total of Rs 4.23 crore from a single victim. The scam involves various states across India and it was orchestrated through deceitful telecommunication.

In November last year, Basetti Sankaraiah from Jagtial, the victim, was targeted by the cyber criminals. The victim got a call from a woman claiming to be Sarika Varma from Mumbai, who falsely informed him that his Aadhaar card had been misused in connection with a money laundering case. The victim was persuaded to transfer Rs 3.23 crore into various accounts for resolving the issue with a promise of a full refund after completion of the so-called investigation.

Sankaraiah was forced to transfer an additional crore by the criminals, elevating his losses to Rs 4.23 crore. The fraudsters exploited the victim’s trust to the extent that they even convinced him to sell his 20-year-old shares and send the proceeds to them. However, growing suspicions led Sankaraiah to confront the fraudsters and eventually cease communication with them, prompting him to report the matter to the police on November 27, 2023.

A special team under DSP Ranga Reddy was formed by the police which traced part of the stolen funds to an account associated with Skyline Travels in Kerala. It is revealed during the investigation that Shaukat Ali, the account holder, had been duped into participating in the scam by a person named Sanjay via the Telegram app, under the promise of receiving a portion of the money. Other individuals and businesses across different states which includes Arunachal Pradesh and Madhya Pradesh were manipulated in similar methods.

The swift action of the police led to the arrest of the five individuals involved in receiving the ill-gotten money. The efforts of the special team, commended by District SP Sunpreet Singh, have shed light on the vast and intricate network of this cybercrime racket. The investigation continues as authorities work to uncover further extents of this elaborate scam.