Andhra Pradesh: Rs 9 crore cyber fraud busted in Kakinada, two held

Kakinada (Andhra Pradesh) [India], June 6 (ANI): Two youths were arrested for their involvement in cyber crimes, with authorities uncovering illegal transactions amounting to Rs nine crore carried out through 48 bank accounts, as per Kakinada district police.
During the operation, police seized bank passbooks, diaries, and two mobile phones. District SP Bindu Madhav shared details of the case.
Kakinada District Police have arrested two youths involved in cyber crimes, who opened bank accounts in the names of innocent individuals and used them for illegal transactions. Authorities identified 48 such bank accounts across multiple banks, through which around Rs nine crore in illicit financial transactions were carried out. District SP G Bindu Madhav stated that this is likely the first time in the state that cyber fraud of this scale has been successfully thwarted.
Kakinada SP Bindu Madhav held a press conference on Friday at the district police office and disclosed all details about the case.
The two arrested individuals have been identified as Narni Satish Chandra and Dasari Veera Venkata Satyanarayana, both from Samarlakota. Two other main accused, Putta Ramu and Uday Kiran, are currently absconding. A Look-Out Circular (LOC) has been issued against Ramu.
The investigation began based on a complaint by Korra Lovakrishna, a resident of Sambamurthy Nagar, Kakinada. Lovakrishna had opened a bank account at Karnataka Bank in the Kakinada One Town Police Station limits on January 31, 2025, with the help of Satish Chandra, who promised bank loans and a monthly payment of Rs 5,000. Lovakrishna, along with his friends, handed over their bank passbooks, ATM cards, chequebooks, and mobile SIM cards to Satish without proper understanding of the consequences.
When no loans or payments were received even after several days, Lovakrishna grew suspicious and questioned Satish, who gave vague and evasive answers. Upon checking with Karnataka Bank, Lovakrishna discovered that his account had been used for illegal transactions totalling Rs 50 lakh. Alarmed, he filed a complaint at the Kakinada One Town Police Station.
Based on the complaint, a case was registered, and three special investigation teams were formed. Following an investigation, both Satish Chandra and his associate Dasari Veera Venkata Satyanarayana were arrested, while Uday Kiran and Putta Ramu remain absconding.
According to SP Bindu Madhav, the accused had been targeting naive and financially vulnerable people, getting them to open bank accounts under the guise of providing loans and monetary benefits. These accounts were then used for large-scale cyber fraud, with operations linked to Bengaluru and Dubai.
In total, 48 bank accounts were used across Karnataka Bank, HDFC, IDBI, and Chaitanya Godavari Grameena Bank, involving Rs 9 crore in fraudulent transactions. Approximately 50 victims have been identified in the Samarlakota and Kakinada areas.
SP Bindu Madhav warned that cybercriminals are now specifically targeting the poor and unaware individuals in society, enticing them with promises of easy money and bank loans. She urged the public to be vigilant and not to fall for fraudulent offers. Renting out bank accounts or giving access to them can jeopardise one's entire life, she said.
SP Bindu Madhav appealed to people to not trust fraudsters or their misleading promises and to stay alert. Anyone approached with such suspicious proposals should immediately report to the local police station.
Police officers, including Kakinada DSP Manish Devaraj Patil, Two Town CI V Naga Durgarao, Peddapuram Crime CI R Ankababu, and Kakinada Crime CI V Krishna were present during the press meet. (ANI)