States » SouthPosted at: Oct 16 2026 7:22PM


Hyderabad CC Police arrest 4 in Rs 37.4-lakh online trading fraud; 20 mule bank accounts identified

Hyderabad, Oct 16 (UNI) Hyderabad City Cyber Crime Police have arrested four people for allegedly providing mule bank accounts and SIM cards to cyber fraudsters to route proceeds of online investment and trading scams, police said on Friday.
Police have identified 20 mule bank accounts and seized nine mobile phones, 10 debit and credit cards, six bank passbooks and eight cheque books during the investigation.
Based on a complaint received on April 4, 2026, from a woman who alleged that unidentified persons contacted her through WhatsApp and lured her into investing in trading platforms with promises of high returns, a case was registered under relevant provisions of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS), and Inspector Y. Gowru Naidu took up the investigation.
She reportedly lost Rs 37.40 lakh in the fraud.
Based on the evidence gathered, police arrested Maroju Subrahmanya Chari, Gedela Nani and Alamanda Manikanta in Bhimavaram, Andhra Pradesh.
Panduraju Abhishek was subsequently apprehended in Pocharam, Hyderabad, for his alleged role in the operation, Cyber crime police said in a release.
During interrogation, Abhishek reportedly disclosed that he had come into contact with a Chinese national through WhatsApp while facing financial difficulties.
He was allegedly offered commissions for arranging bank accounts and SIM cards to facilitate the movement of cybercrime proceeds.
Police said Abhishek had approached the other three accused to obtain bank accounts and SIM cards, offering a commission of Rs 10,000 for each account.
The collected SIM cards were inserted into his mobile phone, and money was allegedly transferred through the accounts to other mule accounts linked to the suspected overseas operator.
According to police, Abhishek also received a commission equivalent to four per cent of the total amount transferred through the accounts and withdrew the money through ATMs.
The investigation has so far linked the suspected fraud network to approximately 54 cases registered across India, involving suspected fraudulent transactions of around Rs 10 crore, police added.
Additional Commissioner of Police (Crimes) M. Srinivas, IPS, appreciated Inspector Gowru Naidu and his team for their efforts in apprehending the accused.
The investigation was continuing.
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Tags: #Hyderabad CC Police arrest 4 in Rs 37.4-lakh online trading fraud; 20 mule bank accounts identified
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