Police arrested four individuals in connection with an online investment fraud. A woman lost ₹37.4 lakh after being enticed to invest through trading platforms promoted on WhatsApp.
These arrests are part of a wider investigation into 54 cases across the country. Police identified approximately ₹10 crore in fraudulent transactions linked to these cases.
The main accused, Panduraju Abhishek, 26, an interior designer, contacted a Chinese national through WhatsApp during a period of financial difficulty.
The Chinese national offered Abhishek commissions for arranging mule bank accounts and SIM cards. These were to be used for transferring money obtained through cyber fraud.
Abhishek then approached three others—Maroju Subrahmanya Chari alias Bannu, 25, Gedela Nani, 28, and Alamanda Manikantha, 20—to acquire the necessary accounts and SIM cards.
Police stated that ₹10,000 was offered for each bank account. The investigation into this network of fraudulent activities is ongoing.