HYDERABAD: The Cybersecurity Bureau on Thursday arrested four persons —Avula Srinivas, Kukkala Sathish Kumar, G Rajender and Vatti Michael Reddy — in connection with an investment fraud in which a victim was cheated of Rs 3.49 crore.
Police said the accused supplied bank accounts to cyber fraudsters. The probe revealed that Michael Reddy held a current account in a private bank through which a portion of the defrauded amount was routed.
Investigators said Srinivas established a software company in Dubai and stayed there for some time in 2024, during which he befriended a man from Rajasthan. After returning to India in October 2025, Srinivas was contacted by the same person, who offered him a 25% commission for arranging current bank accounts.
Investigators found that 94 NCRP complaints were linked to Michael Reddy’s account, involving transactions totalling Rs 6,29,64,433.
In a separate incident, the police foiled a digital arrest fraud attempt and prevented a loss of Rs 18 lakh to a retired school teacher.
