Cybercriminals Operating Fake Applications Arrested After Andhra Tech Entrepreneur Invests Rs 1.74 Crore
In a significant development, the Anantapur police in Andhra Pradesh have arrested a five-member cybercrime gang linked to a major online investment fraud. The gang operated fake investment apps from Cambodia and routed the defrauded money through fake bank accounts in Delhi.
The operation, led by Anantapur Superintendent of Police P Jagadish, is said to be the largest cybercrime gang arrest in the district's history. The gang's activities came to light following a complaint by Narasimhappa, a software engineer from Veparla, Rayadurgam Mandal.
Narasimhappa was lured into WhatsApp groups operated from Cambodia and was promised lucrative returns on his investments. However, his suspicion was aroused when he was asked to pay a 40 per cent tax and brokerage fee to withdraw a purported profit of Rs 3.40 crore. Narasimhappa, who initially invested Rs 12 lakh, was allowed to withdraw a fake profit of Rs 5.50 lakh. Unfortunately, he went on to invest a total of over Rs 1.73 crore in a series of transactions between April 15 and May 14, 2025.
The gang instructed Narasimhappa to use fake applications like "VIP66 Bajaj Investment" and "K26 Zerodha Market Insights". The swindled funds were transferred to 13 fake bank accounts across the country.
In addition to the five arrested members, a private bank manager who allegedly helped the gang's operations is expected to be arrested soon. The investigation uncovered that the gang's method of operation began with a Facebook post offering investment tips.
Authorities recovered ₹41.2 lakh in cash, along with mobile phones, ATM cards, SIM cards, cars, passbooks, and cheque books from the accused. The seized items also included two Wi-Fi routers.
This case serves as a stark reminder of the need for vigilance when it comes to online financial transactions. The Anantapur police's efforts in busting this sophisticated online investment fraud demonstrate their commitment to protecting citizens from cybercrime.
[1] Anantapur police arrest five-member cybercrime gang linked to major online investment fraud [2] The Hindu, 15th May 2025 [3] The Times of India, 16th May 2025 [4] Deccan Chronicle, 17th May 2025
- The five-member cybercrime gang, responsible for a significant online investment fraud, was reportedly arrested by the Anantapur police in collaboration with technology-based evidence and general-news sources, highlighting the increased importance of cybersecurity in preventing such crimes.
- The alleged involvement of a private bank manager in the operations of the cybercrime gang adds another layer to the crime-and-justice implications of this online investment fraud, necessitating continued collaboration between law enforcement agencies and technology sectors to combat such high-profile cybercrimes.
