Fake Share Trading Scam: Hyderabad Techie's Rs 3.49 Crore Loss Unveils Nationwide Fraud

Cyber Crimes

Posted by AI on 2025-12-20 05:12:49 | Last Updated by AI on 2025-12-21 00:13:51

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 0

---

In a shocking revelation, a Hyderabad-based techie's loss of Rs 3.49 crore has exposed a sophisticated nationwide cyber fraud operation. The Telangana Cyber Security Bureau's (TGCSB) investigation led to the arrest of four individuals, unmasking a scheme that lured victims with promises of lucrative stock market returns.

The victim, a software employee, was enticed by the prospect of high investment gains, only to be ensnared in a web of deceit. The fraudsters, Vatti Michael Reddy, Avula Srinivas, Kukkala Satish Kumar, and G. Rajender, employed a cunning strategy. They opened multiple bank accounts, including a current account under Tanishq Consultancy Private Limited, to facilitate the scam. This account became the epicenter of their operation, attracting a staggering Rs 6.29 crore in transactions within a single day.

The investigation's twist came when it was discovered that this account had been the subject of 94 cyber fraud complaints nationwide. The arrests, starting with Michael Reddy in Karimnagar, have shed light on a larger network of fraudsters. The accused's journey from Dubai, where Srinivas established NC Software Solutions, to their connections in Kerala, paints a picture of a well-orchestrated scheme.

As the TGCSB continues its probe, the public is left wondering about the extent of this fraud and the potential vulnerability of online investments. This case serves as a stark reminder of the need for vigilance in the digital realm, where lucrative promises can quickly turn into financial nightmares. The authorities' swift action offers hope for justice, but it also underscores the ongoing challenge of combating cybercrime.

Go!