The Cyber Crime Police of Hyderabad arrested a 28-year-old man from Kadiri in Anantapur district, Andhra Pradesh, for his alleged involvement in an online investment and trading scam. The accused was remanded to judicial custody following his arrest in Tirupati.
According to an officer from Cyber Crimes wing, Kandukuru Sulthan Ahmad Khan was arrested after a resident of Kalyan Nagar lodged a complaint stating that on the night of August 21, he received a WhatsApp message from a group named ‘Navuma 915 Insights Stocks’, encouraging him to invest in an app called ‘Nuvama Insights Stocks’ with promises of high returns.
“Convinced by the group’s claims, the victim transferred ₹24,71,000 through UPI and bank transfers. The app later showed a balance of ₹40.60 lakh, but when he attempted to withdraw the funds, access was denied and he was asked to pay an additional ₹23 lakh,” said the officer.
The investigation revealed that the fraudulent transactions were routed through a bank account held in the name of ‘Sultan Imports & Exports’ at Karur Vysya Bank. Police identified the account holder as Khan, who had supplied fake bank accounts for commission through a Telegram group. He told investigators that a Telegram user, ‘P@anda_566_66’, recruited him to provide bank accounts to launder scam proceeds in exchange for commissions.
On September 20, 2025, Khan met three individuals, Teja, Ajay, and Prabu, at Kachiguda railway station, where he handed over his cheque book, ATM card, and SIM card. Days later, $2,100 in cryptocurrency (USDT) was transferred to his Binance wallet, which he converted to Indian Rupees and deposited ₹2,00,000 into his DBS Bank account. Police said Khan had also provided several other bank accounts, including one with Karnataka Bank, receiving 20% commission for each.
Within just three days, the accused and his associates allegedly cheated victims of nearly ₹3 crore. Investigations further revealed his involvement in at least 15 cyber-fraud cases across India, eight in Telangana and Andhra Pradesh, and others in Gurugram, Thane, Lucknow, Delhi, Bengaluru, Udupi, Kancheepuram, Thanjavur, and Ranchi.
Published – October 19, 2025 09:38 pm IST
