Hyderabad Police bust betting fraud network

Metro India News | Hyderabad  

Hyderabad Cyber Crime Police have arrested four key accused in a massive online gaming and betting fraud involving transactions worth over Rs.26 crore. The arrested individuals are Rajesh Venkata Raman, Bhamidipati Abhishek, Augustene Williams and Manmeet Sharma alias Sonya, while two others remain absconding.

The case surfaced after a 24-year-old woman from Hyderabad lost nearly Rs.30 lakh after clicking a fake Instagram advertisement. She was lured to a fraudulent gaming platform and persuaded to deposit money through multiple UPI transactions with promises of bonuses and initial returns. Eventually, her bank accounts were frozen, leaving her with heavy losses.

Police revealed that the accused operated a well-organised financial network using fake companies and mule bank accounts. They created payment gateways such as CloseX Pay, Trustly Pay and Accult Pay to process illegal betting transactions, earning commissions at multiple levels. The network routed funds through various accounts before diverting them further.

During the operation, police seized four laptops, six mobile phones, nine cheque books, two shell company stamps and Rs.6.5 lakh in cash. Efforts are ongoing to trace the money trail and nab the remaining accused.