Cyber Heist Unveiled: Two Arrested in Rs 9 Crore Bank Fraud
Kakinada district police have arrested two suspects in connection with a cybercrime scheme involving Rs 9 crore in illicit transactions. The accused manipulated vulnerable individuals to open numerous bank accounts used for illegal financial activities spanning multiple banks.
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In a significant crackdown on cybercrime, Kakinada district police have detained two young men who orchestrated a large-scale fraud involving a staggering Rs 9 crore in illicit transactions. The accused, identified as Narni Satish Chandra and Dasari Veera Venkata Satyanarayana, leveraged 48 bank accounts for the scheme.
Authorities revealed that the suspects took advantage of naive and financially struggling individuals by convincing them to open bank accounts with promises of loans and monetary benefits. These accounts, spread across various banks including Karnataka Bank, HDFC, IDBI, and Chaitanya Godavari Grameena Bank, were then utilized for cyber fraud activities.
District SP Bindu Madhav, in a press conference, reported that two other main culprits, Putta Ramu and Uday Kiran, are currently absconding, with a Look-Out Circular issued against one. She urged the public to stay alert against such scams, as being implicated can have drastic life consequences.
(With inputs from agencies.)
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