Four individuals were arrested by the Telangana Cyber Security Bureau (TGCSB) in connection with a large-scale business investment fraud in which a Hyderabad-based software employee was cheated of ₹3.49 crore. During the operation, police seized four mobile phones, two cheque books and three debit and credit cards from the accused.
The accused were identified as Avula Srinivas, 45, a resident of Meerpet; Kukkala Sathish Kumar, 41, a resident of Mahabubabad; G. Rajender, 50, a resident of Warangal and Vatti Michael Reddy, 49, a resident of Karimnagar.
According to the police, Michael Reddy was the holder of a current account opened with Axis Bank in the name of Thanish Consultancy Private Limited, through which a portion of the cheated amount was routed. The probe revealed that the accused were part of a group that procured and supplied bank accounts to cyber fraudsters in return for commission.
The case came to light following a complaint by a software employee residing in L. B. Nagar on November 17. The fraud unfolded on August 20, 2025, when he was added to a WhatsApp group titled “305 Stock Market News” by an unknown woman using the name Aarohi. The group was filled with posts claiming high returns from stock market investments, institutional stocks and IPOs. After observing the group activity for several days, the victim contacted the admin to join the investment programme on September 22, 2025.
