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Hyderabad cyber crime police busts investment fraud racket, uncovers Chinese link

12:09 PM Aug 22, 2025 IST | Durga Prasad Sunku
Updated At : 12:09 PM Aug 22, 2025 IST
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Hyderabad: Hyderabad Cyber Crime police have arrested six individuals involved in a sophisticated investment fraud that siphoned over Rs. 1 crore from a city resident. The investigation has revealed a complex financial trail with proceeds ultimately being funneled to a key operative based in China.

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The accused have been identified as Abdulapuri Harsha Vardhan, Konduru Venu, Mylaram Pradeep, Pachipala Vinodh Yadav, Parasanaboina Vamshi, and Mangali Laxman. They were apprehended in connection with an investment fraud case.

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The case came to light after a 34-year-old woman from Tarnaka filed a complaint. She was lured into a well-planned cyber fraud scheme between January and July 2025. Fraudsters, posing as officials from the National Stock Exchange (NSE) and a fake entity named ‘Coin SSDCX,’ contacted her initially through Instagram and Telegram groups. They persuaded her to perform online “tasks” and invest money through fraudulent trading links. To gain her trust, they credited small rewards initially. Once convinced, she was coaxed into transferring large sums for investments, tax clearances, and target approvals, ultimately losing Rs. 1,05,03,752. Although her application dashboard showed a fictitious balance of Rs. 6.05 crores, no funds were ever returned.

Modus Operandi

According to the Hyderabad Cyber Crime Police, the fraudster's modus operandi involved initial contact through social media platforms like Instagram, WhatsApp, and Telegram, where scammers used professional language and displayed fake profits on sophisticated-looking but entirely bogus platforms to appear legitimate. After receiving the funds, they would sever all communication.

The investigation uncovered a detailed chain of financial exploitation with a direct international link. Accused Mangali Laxman opened a specific IDFC Bank account to receive the illicit funds. An amount of Rs. 90,000 from the victim’s Bank of Baroda account was credited into it. He then handed over his ATM card to Pachipala Vinodh Yadav for a commission. The card was further circulated, eventually reaching Mylaram Pradeep. As per instructions from Konduru Venu, other accused like Parasanaboina Vamshi would withdraw cash from ATMs and petrol pumps, depositing it into various mule accounts for a fee.

The mastermind, Abdulapuri Harsha Vardhan, used these consolidated fraudulent proceeds to purchase USDT cryptocurrency via the ‘Bit Get’ wallet. This cryptocurrency was then transferred to the primary beneficiary, identified as Chen Chen, a resident of China. In return for his role in orchestrating the entire operation and laundering the money out of India, Chen Chen would remit commission payments back to Harsha Vardhan’s personal accounts in Indian rupees.

The police have seized 15 debit cards, 3 passbooks, a cheque book, 8 mobile phones, a fingerprint machine, and a scanner from the accused.

Police Advisory

The Hyderabad Cyber Crime Police have issued a public advisory, urging citizens to be extremely cautious of unsolicited investment calls or messages on WhatsApp, Telegram, or social media. They emphasized that legitimate companies do not directly solicit investments in this manner and warned that any offer showing unrealistic returns is likely a scam. Victims of such cybercrimes are advised to immediately dial 1930 or visit cybercrime.gov.in.

Tags :
a resident of ChinaChen ChenHyderabadHyderabad Cyber Crime PoliceInvestment fraud
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