Hyderabad Cyber Crime Police have arrested four people suspected of supplying bank accounts and SIM cards to an alleged online investment fraud network. According to the police investigation, the case began with a complaint involving ₹37.4 lakh and has since expanded, with investigators identifying 20 suspected mule bank accounts and possible links to around 54 cybercrime cases across India.
The alleged wider network involves transactions estimated at approximately ₹10 crore. Investigators are examining the accounts, electronic devices and financial records to determine how the money was transferred and whether the accounts were used in other reported scams.
How the Investigation Began
According to the supplied report, the case originated on April 4, 2026, when a woman approached Hyderabad Cyber Crime Police and alleged that she had lost ₹37.4 lakh after being persuaded to invest through trading platforms promoted on WhatsApp.
The people behind the alleged scheme reportedly promised high returns to encourage the woman to transfer money. Following her complaint, police registered a case under Sections 66(C) and 66(D) of the Information Technology Act, along with Sections 318(4), 319(2), 336(3) and 340(2) of the Bharatiya Nyaya Sanhita (BNS).
Inspector Y. Gowru Naidu led the investigation, which subsequently focused on the bank accounts allegedly used to receive and move the funds.
Who Are the Four Arrested Suspects?
Police identified the four arrested individuals as Panduraju Abhishek, 26, an interior designer employed in the private sector and residing in Pocharam, Hyderabad; Maroju Subrahmanya Chari, also known as Bannu, 25; Gedela Nani, 28; and Alamanda Manikanta, 20.
According to the report, Chari and Nani worked as drivers, while Manikanta was employed as a helper. The three were initially arrested in Bhimavaram, Andhra Pradesh. Abhishek was subsequently arrested in Pocharam and taken to the Cyber Crime Police Station for questioning.
The allegations against the four remain subject to the ongoing legal process. Their arrest does not, by itself, establish guilt.
How the Alleged Mule Account Network Worked
Investigators allege that Abhishek came into contact with a person described in the police account as a Chinese national through WhatsApp while experiencing financial difficulties. That person allegedly offered him commissions in exchange for supplying bank accounts and SIM cards that could be used to move money linked to cyber fraud.
Abhishek allegedly approached the other three suspects and offered them ₹10,000 for each bank account supplied. Police said the accounts and associated SIM cards were then used to facilitate transfers between accounts allegedly controlled by members of the wider network.
According to investigators, Abhishek inserted the SIM cards into his mobile phone and transferred suspected fraud proceeds to other accounts. He allegedly received a commission equivalent to 4% of the amounts transferred and withdrew the money through nearby ATMs.
These details reflect the allegations described in the police account. Investigators will need to establish the precise roles of the individuals involved and verify the flow of funds through financial records.
Police Recover Phones, Bank Cards and Financial Records
During the investigation, police identified 20 bank accounts suspected of being used to route money associated with online investment scams.
The items seized reportedly include:
Nine mobile phones
Ten debit and credit cards
Six bank passbooks
Eight cheque books
Investigators are examining the seized devices and banking documents to establish how the accounts were opened, who controlled them and where the money went after it entered the suspected mule accounts.
Tracing these transactions may help investigators identify additional accounts or people connected to the alleged operation. The process also highlights the role of financial investigation services in examining complex financial activity and identifying suspicious money flows.
Suspected Links to 54 Cybercrime Cases
According to the police findings cited in the report, the suspected network may be connected to approximately 54 cybercrime cases registered in different parts of India. The transactions associated with these cases are estimated at around ₹10 crore.
The figure is substantially higher than the ₹37.4 lakh loss reported in the original complaint. However, the reported amount relates to suspected transactions across multiple cases and should not be interpreted as a final determination of the network’s total proven losses.
Investigators are continuing to examine account records and electronic evidence to determine which transactions can be linked to the suspects and whether other individuals were involved. The reported international connection is also an aspect that requires further investigation.
What the Case Means for Online Investors
The case illustrates how online investment scams may rely not only on people who approach victims but also on intermediaries who allegedly provide bank accounts and SIM cards to move funds. Such accounts can make it more difficult to trace the destination of money and identify the people ultimately controlling it.
Investors should be cautious of trading opportunities promoted through unsolicited WhatsApp messages, especially when promoters promise unusually high or guaranteed returns. Before transferring money, they should independently verify the platform and the entity offering the investment.
Anyone who suspects they have been targeted by online financial fraud in India should contact their bank immediately and report the incident through the official National Cyber Crime Reporting Portal at https://cybercrime.gov.in. The national cybercrime helpline is 1930.
Investigation Continues
Hyderabad Cyber Crime Police have reportedly identified multiple accounts and suspected links beyond the original complaint, but the investigation remains important for establishing the complete financial trail. Further examination of the seized devices, bank records and transaction histories may clarify the extent of the alleged network.
The case serves as a reminder that sharing bank accounts, payment credentials or SIM cards for commissions can expose individuals to serious legal risks if those resources are used in criminal activity. The allegations against the arrested individuals will be determined through the legal process.