In a significant crackdown, the Telangana Cyber Security Bureau (TGCSB) has apprehended four individuals involved in a sophisticated cyber fraud that cheated a Hyderabad-based businessman out of a staggering ₹3 crore. The accused allegedly lured the victim with promises of lucrative stock market investments through a fake scheme.
The Elaborate WhatsApp Scam
The case came to light when a businessman from North Lalaguda in Hyderabad approached the police. He reported that on April 14, he was added to a WhatsApp group named "SMC Global Securities" by persons calling themselves Anu Prita and Ajay. Over time, the group members gained his trust by discussing stock market trends.
The situation escalated on June 19, when the fraudsters convinced the complainant to subscribe to an Initial Public Offering (IPO). They persistently pressured him to transfer a minimum of ₹3 crore to secure share allocation. Assured that he could withdraw his funds anytime, the victim fell into the trap.
How the Money Was Siphoned Off
Trusting the con artists, the businessman proceeded to transfer the enormous sum through 16 separate transactions to various bank accounts provided by them. As a ploy to build false confidence, the scammers allowed him to make a token withdrawal of ₹10,000. However, the deception was soon revealed when he was later informed that his account had fallen into a negative balance.
This shocking discovery prompted him to file a formal complaint with the TGCSB on June 28. Acting swiftly, cyber sleuths launched an investigation, tracing one of the destination accounts to Kerala, which had received ₹77 lakh from the victim.
The Drone Startup Connection and Arrests
Further forensic examination of the money trail led investigators to a crucial discovery. A sum of ₹8 lakh had been transferred to a current account held in the name of "Drones Spray". This company was founded by Srinivas Manubothula (45), a software consultant from Narsingi, for his drone software startup.
TGCSB Director Shikha Goel revealed the modus operandi. Srinivas, who had suffered losses in his business started in 2023, was actively seeking investors. He was introduced by his friend Shekar—a supplier of bank accounts to cyber criminals—to the other accused. In exchange for a 10% commission, Srinivas agreed to let the fraudsters use his company's bank account.
The accomplices took the SIM card linked to this account, routed a total of ₹4.3 crore through it, and later returned the SIM card to Srinivas along with ₹2 lakh in cash as his share.
Based on this evidence, the TGCSB team arrested four individuals in Hyderabad:
- Srinivas Manubothula (45), the software consultant and drone startup founder.
- Syed Yousuf (45)
- Chekka Yeshaya (54)
- Mohammed Jaber Ahmed (42)
The arrests underscore the growing trend of cybercriminals exploiting legitimate business accounts and the increasing sophistication of investment frauds operating through social media platforms like WhatsApp. Authorities have warned citizens to exercise extreme caution and verify the credentials of any unsolicited investment opportunity.
