Kochi: The city police investigating a Rs 25-crore cyberfraud case on Thursday received Hyderabad-based businessman Satyanarayana Murthy in custody for detailed interrogation. The case pertains to an Ernakulam-based businessman who was defrauded of approximately Rs 25 crore through the website Capitallx.com under the guise of trading.
Arrest and Custody
Police arrested Murthy (36) in connection with the case on May 3. According to the police, Murthy, along with another accused, misappropriated Rs 16 crore linked to the scam. Following his arrest, the accused was lodged at Ernakulam sub jail. The court granted custody of the accused until May 16 for thorough interrogation.
Nature of the Fraud
The fraud was executed by luring the victim to invest money for trading through the Cyprus-based website Capitallx.com. Police stated that cases have been registered against the website in various states across the country. Under the direction of Kochi city commissioner Kaliraj Maharaj, a special investigation team was formed to probe the case, which recorded one of the highest amounts lost by an individual in the country through cyberfraud.
Investigation and Arrest
Following the probe, which revealed the involvement of the accused's institution operating out of Hyderabad in the misappropriation of around Rs 16 crore, the cyberpolice team obtained an arrest warrant from the court and traveled to Hyderabad. According to police, Murthy owned an IT company and a construction company and was leading a luxurious life.
ASI Booked in Separate Case
In a separate incident, Ernakulam rural police on Thursday booked an assistant sub-inspector (ASI) based on a complaint by a woman that he made vulgar and sexually colored remarks against her during an investigation in June 2023. The allegation is against an ASI working with the Nedumbassery police station. The case was registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) following the direction of a magistrate court after the woman sought judicial intervention.
