Kochi, Oct 30 (IANS) In a crackdown against cyber fraud, the ED collected digital evidence and seized Rs 6.40 lakh in cash and froze 11 bank accounts with a balance of Rs 14 lakh during search operations at three premises in Hyderabad, an official said on Friday.
The Directorate of Enforcement, Kochi Zonal Office, conducted searches in Hyderabad on October 28, 2026, under the Prevention of Money Laundering Act (PMLA), 2002. The searches were at the premises related to Allamraju Satyanarayana Murthy and were conducted in connection with a cyber fraud case registered at Ernakulam, the official said in a statement.
The ED investigation was initiated on the basis of an FIR registered by the Cyber Police Station, Ernakulam.
As per the FIR, the complaint was lodged by Nimesh alleging that he was induced by the accused through telephonic communications and chat messages using the Telegram app to make investments by promising high returns, the ED said.
It was represented to the complainant that he would secure high returns by trading through the website www.capitalix.com, it said.
Accordingly, the accused deceived the complainant into transferring an aggregate sum of Rs 24,76 crore in several instalments to various bank accounts maintained by or under the control of the accused, it said.
Thereafter, the accused failed to return either the assured profits or the principal sum so received, thereby committing cheating and criminal breach of trust, causing wrongful loss to the complainant, it said.
The investigation revealed that the complainant was cheated of Rs 26.02 crore during the period from May 23, 2023, to May 27, 2024. After receiving the money, the accused transferred it to various mule accounts operated by them, the ED said.
The layering was done deliberately to avoid detection of the source of funds. Investigation revealed that one Allamraju Satyanarayana Murthy floated several entities in the name of his family members and employees from which funds were layered, it said.
These entities included BTR Industries, Velugu Trading Company, Aasritha Mega Solutions Pvt Ltd., Aasritha Infra Projects and Aasritha Infra Projects Pvt Ltd, it said.
The ED said a Villa Project in Hyderabad was launched in the name of Aasritha Infra Projects and Aasritha Infra Projects Pvt Ltd. The accused has acquired multiple immovable properties from the Proceeds of Crime, the ED said.
During the search, incriminating evidence in the form of documents and digital evidence was seized. The ED said it also identified immovable properties, plots and a villa, valued at about Rs 5 crore.
–IANS
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