Hyderabad: The Cyber Crime Unit of Hyderabad Police arrested six men in a ₹1.05 crore investment fraud case after a woman was duped through fake trading links.
Accused linked to China
Police identified the accused as Addulapuri Harsha Vardhan, Konduru Venu, Mylaram Pradeep, Pachipala Vinodh Yadav, Parasanaboina Vamshi, and Mangali Laxman. They worked with a Chinese national, Chen Chen, who received the funds abroad.
Investigators said the gang targeted a 34-year-old woman from Tarnaka between January and July 2025. They contacted her on Instagram and Telegram, posing as officials of NSE and Coin SSDCX. At first, they credited small rewards to win her trust. Later, they convinced her to transfer more than ₹1.05 crore on the pretext of investments, tax clearance, and approvals.
Although her app account displayed ₹6.05 crore, she never got any money back. Police booked the case under Sections 66C and 66D of the IT Act and several provisions of the BNS.
According to officials, Laxman opened an IDFC Bank account to collect the fraud money. He gave the ATM card to Vinodh Yadav for commission. The card then moved through the group, with others using it to withdraw cash at ATMs and petrol pumps. They deposited the money into different mule accounts.
Meanwhile, Harsha Vardhan purchased USDT on BitGet wallets and transferred it abroad to Chen Chen. In return, Chen Chen sent commissions back to the gang. Investigators confirmed the group had managed over 50 bank accounts and moved crores of rupees to China.
Police seized 15 debit cards, three passbooks, one chequebook, eight mobile phones, a fingerprint machine, and a scanner.
Inspector M. Seetharamulu led the operation with SI A. Srikanth and constables under the supervision of ACPs R.G. Siva Maruthi and Jaypal Reddy.
Police advised the public to stay alert against fake investment scams that spread through WhatsApp, Telegram, and Instagram. They warned that scammers use fake company websites, professional tone, and false profit screenshots to mislead victims. Officials also stressed that genuine companies never approach investors directly.
Victims of cybercrime can dial 1930 or file complaints at cybercrime.gov.in for immediate help.
