The Cyber Crime Wing of the Central Crime Branch (CCB) has arrested a key accused in Andhra Pradesh, in a case involving the alleged cheating of a 69-year-old retired bank employee of ₹3.4 crore through a fake online investment scheme.
The complainant, a Chennai resident, was contacted through WhatsApp by a member of a group named FYERSHNIVIP. The person introduced himself as Rajiv Mehta, chief investment officer, and persuaded the complainant to invest in an investment firm operating in Bengaluru, promising high returns. The accused allegedly circulated fabricated conversations in the WhatsApp group, which had around 50 members, to make it appear that several investors had earned substantial profits. Believing these claims, the retired bank employee transferred a total of approximately ₹3.40 crore in 13 instalments from his bank account to accounts held in the names of different individuals across various States, as instructed by the purported investment firm.
When the promised returns failed to materialise and the mobile phone numbers of the persons involved became unreachable, the complainant realised that he had been cheated and lodged a complaint. A police team conducted an intensive investigation and camped in Visakhapatnam in Andhra Pradesh, to track the accused. They arrested Konathala Krishna, 52, a resident of Merudi in Anakapalli mandal in Visakhapatnam district. He allegedly owned a bank account into which ₹40 lakh from the complainant’s account had been transferred.
During the investigation, the police analysed the transactions through which the complainant’s money had been transferred and froze the bank accounts that were used to receive the funds. The money transferred by the complainant through 13 transactions was subsequently routed through 20 layers of transactions involving 150 banks and 27 bank payment apps, eventually reaching a total of 8,574 bank accounts.
So far, the police have recovered approximately ₹21 lakh in the case.
Published – October 11, 2026 05:30 am IST
