Man Held For Online Trading Scam With Honey Trap

Visakhapatnam: The Visakhapatnam Cyber Crime Police arrested a 40-year-old man in connection with a sophisticated honey-trap and fake online trading scam that allegedly defrauded a victim of over ₹10 lakh.

The accused, identified as Ravipati Madhu Babu of Palnadu district, was taken into custody following a complaint lodged on December 25, 2025, and has since been remanded to judicial custody.

According to police, the victim was first contacted in May 2024 by a woman identifying herself as “Swathi” through a Telegram-based trading group. Over several months, she gained the victim’s trust by claiming expertise in online trading and promising high returns on investments.

To establish credibility, the scammer initially transferred ₹6,38,999 from the victim’s account via UPI and later returned ₹2,28,999, creating a false impression of legitimacy. Encouraged by this, the victim invested additional amounts, which ultimately resulted in financial losses.

Police said that Madhu Babu later approached the victim, claiming to be Swathi’s husband. He allegedly travelled to Visakhapatnam and threatened the victim and his family with physical harm. The accused is also said to have made repeated threatening phone calls.

Under intimidation, the victim reportedly made multiple payments totaling ₹10,45,000. During the extortion, the accused also allegedly obtained a blank promissory note from the victim.

A case was registered under Sections of BNS, along with Sections of IT Act. Further investigation was underway.