Online investment scam: three held in Hyderabad for aiding cyber fraud rings

Three men from Andhra Pradesh were arrested by Hyderabad Cyber Crime Police for aiding large-scale online investment frauds that targeted unsuspecting victims across India.

The accused were identified as Madathala Ramesh Reddy (25), Gandi Srinu (31), and Gurrapūkonda Sridhar (43). They were apprehended in connection with three separate cases registered at the Cyber Crime Police Station, Hyderabad.

Police said the trio provided access to their bank accounts to organised cyber-criminal networks that circulated fake investment schemes through WhatsApp and Telegram groups. Victims were lured into groups, where they were persuaded to invest in fraudulent stock trading and crypto platforms such as SMC STK Trading App and valiantcapital app.

According to investigators, victims poured in large sums, trusting the supposed advisors, only to discover later that withdrawals were blocked and their money vanished. The total losses across the three cases were estimated at over ₹59 lakh.

Police said all three accused acted as facilitators for cyber-crime syndicates by opening bank accounts and selling access credentials to fraudsters for a commission.

Police have urged the public to remain alert against investment offers shared via WhatsApp or Telegram, particularly from unknown numbers. They advised citizens to verify all platforms through SEBI’s official website before investing and to avoid schemes that promise unrealistic profits.