Mastermind in multi-crore fraud in SBI Shamsheergunj nabbed

A 30-year-old man from Vijayawada was arrested by the Telangana Cyber Security Bureau (TGCSB) in connection with a large-scale cyber fraud involving multiple mule bank accounts that facilitated illegal transactions running into several crores of rupees.

The accused, identified as Vaddevalli Lalitha Saran Kumar, was taken into custody after he was intercepted at the Sonauli check post on the Indo-Nepal border near Gorakhpur while attempting to re-enter India from Nepal. A Look Out Circular had earlier been issued against him, following which he was brought to Hyderabad on a transit warrant and remanded to judicial custody. Two mobile phones were seized from him at the time of arrest.

Investigators said the case, registered suo motu in March 2024, arose after suspicious activity was flagged on six current accounts at the State Bank of India’s Shamsheergunj branch in Hyderabad.

Verification revealed unusually high-value transactions within two months, amounting to hundreds of crores of rupees, across accounts linked to various firms. These included M/s CCEHD, represented by Syed Iqbal Hussain, which showed a turnover of ₹21.06 crore with 234 crime links; M/s Synerry Sculpt Traders represented by Mohammed Abdul Razzaq, with ₹8.49 crore and 95 crime links; and M/s Quantum Quotiffient Innovations, operated by Amer Siddiqui, with ₹1.42 crore and 19 crime links. Other flagged accounts were M/s Pinnacle Pulse Enterprises, represented by Mohammed Imran Siddiqui, with ₹34.22 lakh and 20 crime links; M/s Provex Vad Traders, linked to Mohamood bin Ahamed Bawazir, with ₹34.19 lakh and 9 crime links; and M/s Provex AHM Fusion, in the name of Mohammad bin Ahmad Banazeer, which recorded the largest turnover of ₹124.25 crore with 234 crime links.

Police said Kumar, who frequently travelled to Dubai, had arranged agents to open multiple mule current accounts in different banks, offering commissions to account holders. These accounts were then used to route fraudulent funds derived from online scams and other organised cybercrimes.

Earlier, six people had already been arrested in connection with the case, including three account holders, two agents and the manager of the SBI Shamsheergunj branch. Kumar played a key role in orchestrating the wider network of fraudulent transactions along with his associates, who remain at large.

The TGCSB has cautioned the public against handing over their bank accounts to others in return for commission or benefits, warning that such accounts are exploited by cybercriminals and that account holders themselves will face strict legal action if found complicit.