Four Nabbed In Hyderabad For Rs 3 Crore Cyber Fraud
The accused had used a woman to lure the victim into a fake trading scheme.
Published : August 2, 2025 at 7:40 PM IST
Hyderabad: The Telangana Cyber Security Bureau (TGCSB) officials have arrested four individuals from Hyderabad for allegedly duping a man to the tune of Rs 3 crore in the name of share market investments. The accused had used a woman to lure the victim into a fake trading scheme.
Those arrested include Manubotula Srinivas (45) who is a software consultant from Narsingi, Syed Yusuf (45) who is into real estate business from Aghapura in Nampally, Chekka Yesaiah (54) from Banjara Hills and Zubair Ahmed who is a manager at JBR Enterprises from Humayun Nagar. They have been remanded to judicial custody.
According to sources, the victim from Lalaguda in North Secunderabad received a phone call on April 14 from a woman named Anupreeta who claimed to be an assistant to Ajay Garg, Chief Executive Officer (CEO) of a reputed company in New Delhi. She persuaded him to join a WhatsApp group named ‘SMC Global Securities’ related to stock market investments promising huge returns.
On June 19, she made him subscribe Initial Public Offering (IPO) and forced him to pay Rs 3 crore for share allocation while claiming that he would receive an allotment worth Rs 49 crore. He was allegedly assured that the money could be withdrawn at any time.
Trusting her, the victim allegedly transferred Rs 3 crore into 16 different bank accounts. When he failed to recover the money, he realized that he had been cheated and approached the TGCSB.
Investigations revealed that Rs 77 lakh was transferred from the victim’s account to an account in Kerala of which Rs 8 lakh was sent to the account of Manubotula Srinivas.
After facing losses in his business, Srinivas had allegedly handed over his bank account to Zubair for a 10% commission on the suggestion of Yesaiah. Zubair later introduced him to Yusuf. The group then travelled to Mumbai where they met a larger gang of cyber fraudsters.
According to TGCSB, Rs 4.3 crore was routed through Srinivas’ current account in the name of his company Drone Spray using net banking and further distributed to multiple accounts. Alarmingly, 46 complaints related to the same account have been registered on the National Cyber Crime Reporting Portal (NCRP) across various states.
The TGCSB is continuing the investigation to identify other members of the interstate network and recover the remaining amount.
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