Online betting fraud racket worth ₹26 crore busted in Hyderabad
HYDERABAD: The Cyber Crime Police of Hyderabad city have arrested four persons for allegedly operating a financial network linked to online gaming and betting frauds, involving transactions worth ₹26,07,01,460.
The arrested accused were identified as Rajesh Venkata Raman, Bhamidipati Abhishek, Augustene Williams and Manmeet Sharma alias Sonya. Two others, identified as Andy alias Shaheer and Rushabh Jasvantrai Gandhi, are on the run.
Victim duped through fake gaming platform advertisement
Police said the case came to light after a 24-year-old woman from Hyderabad reported losing about ₹30 lakh. She was allegedly lured through a deceptive Instagram advertisement and directed to a gaming platform.
The victim was contacted via WhatsApp and persuaded to invest money with promises of bonuses and initial withdrawals. Trusting the platform, she deposited funds through multiple UPI transactions using accounts in Bank of India, State Bank of India and Indian Bank.
Despite repeated losses, she continued deposits due to financial pressure. Later, her bank accounts were frozen and lien-marked after being flagged for suspicious transactions. She eventually lost her savings and access to remaining funds.
Payment gateways created to channel illegal betting transactions
According to police, Rajesh Venkata Raman and absconding accused Rushabh Jasvantrai Gandhi were directors of a private company used as a front.
They allegedly created payment gateways such as CloseX Pay, Trustly Pay and Accult Pay to process transactions through UPI, IMPS, credit and debit cards. The accused charged commissions ranging between 2% and 3% per transaction.
Rajesh reportedly hired Abhishek and Williams to operate the payment systems. Andy alias Shaheer allegedly created mule bank accounts using fake company identities and shared KYC documents with Manmeet Sharma.
Police said Sharma forwarded these documents to Abhishek, who coordinated with bank officials in Ahmedabad to enable payment gateway services for a commission of about 0.75%.
Investigators said betting funds were routed through these gateways. Rajesh retained 5% commission along with Sharma’s share before transferring the remaining amount to Andy’s accounts.
Authorities said the network handled transactions totalling ₹26 crore from betting platforms.
Cash, devices and documents seized during operation
Police seized four laptops, six mobile phones, nine cheque books, two shell company stamps and ₹6,50,000 in cash during the operation.
The case was detected by a team led by Inspector P. Shiva Chandra along with other officers of the Cyber Crime Police Station.
Efforts are underway to trace the money trail and apprehend the absconding accused.
Police warn public against online betting and gaming scams
Police cautioned the public against online gaming and lottery advertisements on social media promising easy money.
They said online betting is prohibited under the Telangana Gaming Act and warned that such platforms often lure users with initial gains before causing losses.
