Telangana CID Arrests Man in ₹95-Crore Fake Crypto Investment Scam
The accused allegedly lured investors through a bogus website and WhatsApp groups by promising high returns.
Published : July 8, 2026 at 6:36 PM IST
Hyderabad: The Telangana Crime Investigation Department (CID) on Wednesday arrested a 47-year-old man in connection with a case of fraud involving the promise of huge profits through cryptocurrency investments.
The accused, Kurrimela Ramesh Goud, from Nellutla village of Lingalaghanapuram mandal, Jangaon district, was arrested following an investigation into complaints of large-scale financial fraud.
The case was registered after one Manoj Kumar from Karimnagar lodged a complaint with the CID, stating that he had been duped through a fraudulent website. According to officials, Goud created a fake online platform named GBR and persuaded people to invest in a purported cryptocurrency business by promising high returns.
To gain the confidence of potential investors, the accused allegedly added individuals to a WhatsApp group and convinced them that he was involved in legitimate crypto transactions.
Police said he used fake accounts and user IDs and fabricated investment records to display fictitious profits. Many people from Karimnagar, Jagtial, and neighbouring districts transferred their money to the accounts provided by Goud, police said.
In the initial stages, some investors were allowed to withdraw small amounts as "profits" to build trust and attract more investments. However, once the payments stopped, the fraud came to light, and the victim, Kumar, approached the CID. After registering a case, the police launched an investigation and found that Goud had amassed Rs 95 crore through the fraudulent scheme. The Karimnagar CID team, led by DSP CH Srinivas, arrested Goud.
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