Four Arrested For Letting Fraudsters To Use Accounts

Hyderabad: The Hyderabad cybercrime police on Friday arrested four persons for supplying their bank accounts to fraudsters which enabled the anti-social elements to defraud a software employee of Rs 3.49 crore in a business investment fraud.

The four arrested were Avula Srinivas, of Meerpet; Kukkala Sathish Kumar of Mahbubabad, G. Rajender of New Shayampet, Warangal, and Vatti Michael Reddy, a consultant for overseas jobs, and a resident of Koti Rampur, Karimnagar.

According to officials, Michael Reddy was a current-account holder of Thanish Consultancy Pvt Ltd, where a part of the fraud amount got deposited. Along with him, three other accused formed a group and supplied bank accounts to cyber fraudsters.

The police acted on a complaint lodged by the victim — a software employee residing at L.B. Nagar — on November 17 about an investment scam he fell victim to.

According to the complainant, an unknown person with a female display picture — who identified herself as Aarohi — on August 20, 2025, added the victim’s number to a WhatsApp Group where admins were suggesting high-gain stocks.

TGCSB director Shikha Goel said that Aarohi and Shiv Sehgal referred the victim to an investment platform through a WhatsApp link and collected his personal. The victim initially invested Rs 50,000, and the platform showed a profit of 4.69 per cent.

Then coaxed him to invest more to earn substantial profits. Under her persuasion, he eventually invested `3.49 crore over a period of 50 days. He once withdrew Rs12 lakh to satisfy himself about the genuineness of the transaction. During this period, the account showed a profit of Rs 28.52 crore.

"When the victim later tried to withdraw, the amount was blocked and he realised that he was duped. During the probe, it was revealed that the arrested accused offered their current accounts to online miscreants to deposit looted money. Based on the inputs, they arrested four persons in the case," the director said.