Hyderabad Online Gaming Betting Fraud Busted: ₹26 Crore Financial Network Exposed, 4 Arrested
Hyderabad online gaming betting fraud busted as cyber crime police arrest 4 accused involved in ₹26 crore scam using fake payment gateways.
The Cyber Crime Police Hyderabad arrested four individuals linked to an online gaming and betting fraud network that cheated victims through fake platforms and illegal payment gateways.
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How the Hyderabad Online Gaming Betting Fraud Worked
The case came to light after a 24-year-old woman from Hyderabad lost nearly ₹30 lakh in a scam.
- She clicked on a fake Instagram advertisement
- Was redirected to a betting platform via WhatsApp
- Initially received small returns to gain trust
- Later deposited large sums through multiple UPI transactions
- Eventually lost all savings and faced frozen bank accounts
Key Accused Arrested
Police arrested four main accused involved in the Hyderabad online gaming betting fraud:
- Rajesh Venkata Raman
- Bhamidipati Abhishek
- Augustene Williams
- Manmeet Sharma
Two other accused are currently absconding.
Modus Operandi of the Fraud Network
Investigations revealed a well-organized system:
- Creation of fake payment gateways like CloseX Pay, Trustly Pay, and Accult Pay
- Transactions processed through UPI, IMPS, credit and debit cards
- Use of fake companies and mule bank accounts
- Commission ranging from 2% to 5% on each transaction
- Total transactions exceeding ₹26.07 crore
Seizures Made by Police
During the operation, authorities seized:
- 4 laptops
- 6 mobile phones
- 9 cheque books
- Shell company stamps
- Cash worth ₹6.5 lakh
Police Continue Investigation
Efforts are ongoing to:
- Trace the complete money trail
- Arrest remaining absconding accused
- Identify more victims of the fraud
Public Advisory Issued
Police have warned citizens about such scams:
- Avoid clicking on online gaming or betting ads promising easy money
- Online betting is illegal under Telangana law
- Fraud platforms often lure users with initial profits before causing losses
Major Cyber Fraud Crackdown in Hyderabad
The Hyderabad online gaming betting fraud busted case highlights the growing threat of digital financial scams and the need for increased public awareness.
In conclusion, the Hyderabad online gaming betting fraud busted operation has exposed a ₹26 crore illegal network, with police continuing efforts to dismantle the entire chain and prevent further fraud.
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