Hyderabad: The Khammam police have uncovered a massive, organised cyber fraud operation in which nearly Rs 650 crore was allegedly routed through mule bank accounts supplied to international cyber scam networks operating from Cambodia and Myanmar.
While around 20 accused have been arrested so far, a key accused, Udathaneni Vikas Chowdary, remains absconding.
The case came to light following a complaint lodged on December 24 by a 30-year-old unemployed man from Tumburu village in Sathupally mandal.
The complainant alleged that he was forced to open two bank accounts, which were later taken over and used for cyber fraud activities. Based on the complaint, the V M Banjar police station registered a case against Vikas Chowdary and four others: Potru Praveen, Potru Kalyan, Morampudi Chenna Keshavulu and J Shiva Krishna.
Unemployed youth, daily wage labourers prime targets
According to the police investigation, the accused, since 2021, targeted unemployed youths and daily-wage labourers in Khammam district, particularly in and around Sathupally, and induced them to open bank accounts in exchange for amounts ranging between Rs 3,500 and Rs 10,000.
In total, about 110 bank accounts were opened and used as mule accounts to launder proceeds from cyber fraud, a report by TOI stated.
Investigators revealed that three of these accounts were opened in the name of a Hyderabad-based interior design company operated by Vikas Chowdary, while another account used in the fraud was operated by one of his family members.
Police suspect that Vikas, a 31-year-old engineering graduate from Sathupally, has been evading arrest with the help of a relative who allegedly has political connections.
Police said that money siphoned from cyber fraud victims was first deposited into the mule accounts and later transferred to multiple current accounts held in the names of companies and individuals.
Funds converted into cryptocurrency
The funds were subsequently converted into cryptocurrency and sent to cyber fraudsters operating abroad. Officials estimate that the accused may have pocketed over Rs 60 crore as commission for laundering the proceeds, the report further stated.
As part of the investigation, the police have arrested 18 to 20 persons so far, including Potru Praveen and Potru Kalyan, while efforts are on to nab six more accused who are still at large.
The Enforcement Directorate has been informed about the money laundering angle of the case, it added.
Addressing the media at the V M Banjar police station on Sunday, Khammam Police Commissioner Sunil Dutt said the accused were part of a large-scale, organised cybercrime syndicate.
“They induced individuals under the pretext of employment and business opportunities and deliberately used bank accounts opened in their names to receive, transfer and launder proceeds of cyber fraud. A portion of the money was converted into cryptocurrency,” he said.
During the probe, the police detected transactions of Rs 114.18 crore in the bank account of Potru Manoj Kalyan, Rs 45.62 crore in two bank accounts held by his wife Bhanupriya, Rs 135.48 crore in his brother-in-law M Satish’s account, Rs 81.72 crore in Nagalakshmi’s account, Rs 92.54 crore in Karimnagar-based Tatikonda Raju’s account, and Rs 80.41 crore in a bank account linked to Vikas Chowdary.
Police officials said the figures are preliminary and may rise further as the financial trail and cryptocurrency transactions are analysed in detail.
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