Hyderabad Cyber Fraud Ring Uncovered: Rs 650 Crore Laundered Through Mule Accounts
In a significant breakthrough, Khammam police have exposed a sophisticated cyber fraud operation with international connections. The investigation centers on Udathaneni Vikas Chowdary, a key absconding accused, who along with other individuals, allegedly supplied approximately 110 bank accounts to an international cyber scam network operating from Cambodia and Myanmar.
Massive Financial Transactions and Suspected Profits
According to police officials, these mule accounts facilitated transactions worth around Rs 650 crore. The accused are suspected to have personally benefited by pocketing over Rs 60 crore for their role in laundering the criminal proceeds. This revelation highlights the scale and profitability of such cyber fraud operations that target vulnerable individuals.
Case Registration and Initial Arrests
The case came to light following a complaint from a 30-year-old unemployed man from Tumburu village in Sathupally mandal. On December 24, the VM Banjar police station registered a formal case against Vikas and four others:
- Potru Praveen
- Potru Kalyan
- Morampudi Chenna Keshavulu
- J Shiva Krishna
The complaint alleged that these individuals forced the victim to open two bank accounts and subsequently took control of them for use in cyber fraud activities. So far, Khammam police have arrested approximately 20 accused in connection with this case, including Potru Praveen and Potru Kalyan.
The Elusive Mastermind: Udathaneni Vikas Chowdary
Despite multiple arrests, authorities have been unable to apprehend Udathaneni Vikas Chowdary, a 31-year-old engineering graduate from Sathupally. Police investigation has revealed that since 2021, Vikas Chowdary and Potru Kalyan systematically recruited unemployed youths and laborers in Khammam district, particularly in Sathupally and surrounding areas.
These individuals were encouraged to open bank accounts in exchange for payments ranging from Rs 3,500 to Rs 10,000. Investigators noted that three of these bank accounts are registered under the name of an interior design company based in Hyderabad, which is operated by Vikas himself. Additionally, one account operated by a family member was also utilized in the fraudulent activities.
International Money Laundering Network
A senior official involved in the investigation explained the sophisticated money laundering process: "Money from cyber fraud victims first lands in these mule accounts. The accused then transfer it to various current accounts registered under company and individual names. Subsequently, the funds are converted into cryptocurrency and sent to cyber fraudsters operating abroad."
Police suspect that Vikas, Kalyan, and their associates may have earned over Rs 60 crore through this elaborate scheme. Given the financial magnitude and cross-border implications, authorities have formally written to the Enforcement Directorate regarding the money laundering aspects of the case.
Political Connections and Evasion Tactics
Investigators have expressed concerns about Vikas Chowdary's ability to evade capture. "Vikas has been on the run, and we suspect he is receiving assistance from a relative with political connections to avoid legal consequences," revealed an investigator familiar with the case. This dimension adds complexity to the investigation and highlights potential challenges in bringing all perpetrators to justice.
The case continues to develop as authorities pursue remaining suspects and trace the extensive financial network that facilitated this massive cyber fraud operation with international dimensions.
