Telangana Cyber Cops Arrest Financial Facilitator In AP
The case began when the victim was lured through WhatsApp by a fraudster using the identity “Anya Sharma”, who convinced him to invest Rs 7,75,000 in a fake forex-trading platform showing fabricated dashboards and false profits.
Hyderabad: In continuation of action of its first-ever 25-day coordinated multi-state special operation conducted in October, the Telangana Cyber Security Bureau (TGCSB) has arrested a key financial facilitator involved in multiple online trading and forex frauds.
“The Cyber Crime Police Station (CCPS), Nizamabad, has arrested Shaik Basha Sulthan, 38, at Chilakaluripet, Andhra Pradesh. Preliminary analysis found that he is linked to 26 cybercrime cases across India, including three cases in Telangana. His role was to act as a financial conduit, supplying bank accounts to foreign cybercriminals who exploited India’s digital banking networks for large-scale fraudulent fund transfers," said Shikha Goel, Director, TGCSB.
The case began when the victim was lured through WhatsApp by a fraudster using the identity “Anya Sharma”, who convinced him to invest `7,75,000 in a fake forex-trading platform showing fabricated dashboards and false profits. The money was routed into multiple mule accounts across several states, leading investigators to a network of account providers working for foreign handlers.
TGCSB also arrested Kollipara Venkata Rama Durga Naresh Babu, 33, private employee, Sattenapalle, Andhra Pradesh. He admitted that he provided his current account for cyber fraud in return for 10 per cent commission per transaction, acting on the assurance of his associate Shaik Basha Sulthan. This confession paved the way for tracing and arresting the next accused.
