Hyderabad Duo Arrested in Major Rs 15.4 Crore 'Digital Arrest' Cyber Fraud Case
In a significant breakthrough, the Belagavi City Cyber Crime police have apprehended two individuals from Hyderabad for their alleged involvement in a high-value cyberfraud scheme. The accused are suspected of siphoning off a staggering Rs 15.4 crore from a senior citizen through a sophisticated 'digital arrest' scam.
Details of the Fraudulent Scheme
The victim, Ajit Gopalakrishna Saraf, a resident of Tilakwadi in Belagavi, was targeted by fraudsters who impersonated officials of the Central Bureau of Investigation (CBI). One of the callers falsely identified himself as K Subramanyam, claiming to be the agency's director.
The scammers allegedly informed Saraf that two Sim cards registered under his name were being misused. They further fabricated a story linking him to Jet Airways founder Naresh Goyal, stating he was under investigation for these alleged connections.
Using these false claims, the accused threatened Saraf with severe legal consequences and coerced him into transferring substantial amounts of money. This manipulation led to significant financial losses for the senior citizen.
Financial Transactions and Investigation
Police investigations uncovered that between February 7 and March 9, 2026, a total of Rs 15.4 crore was transferred through Real Time Gross Settlement (RTGS) transactions. From Saraf's Canara Bank account, Rs 25 lakh was routed to an account associated with the accused.
Additionally, Rs 5 lakh was allegedly siphoned off as commission through money-laundering channels. Following meticulous technical and financial trail analysis, authorities identified the suspects as Venkadoth Sharath Nayak and Degavath Sripad Nayak, both residents of Hyderabad.
Further probe revealed that Rs 2 crore was credited to their joint IndusInd Bank account on February 9, strengthening the evidence against them.
Arrests and Legal Proceedings
The duo was arrested in Hyderabad on April 6 and produced before a court on April 7. During initial questioning, police reported that the accused were non-cooperative, complicating the investigation process.
The case was officially registered at the Belagavi City Cyber Crime police station on March 18. Charges have been filed under Sections 318(4), 319(2), and 111(2) of the Bharatiya Nyaya Sanhita, along with Sections 66(C) and 66(D) of the Information Technology Act.
Police Efforts and Ongoing Investigation
The operation was conducted under the guidance of Assistant Commissioner of Police BS Mantur. Key roles in the investigation were played by Cyber Crime inspector Shreeshail Gabi, Police Sub-Inspector Suman Pawar, and other dedicated officers.
City police commissioner Bhushan Borase has publicly appreciated the team's diligent efforts in cracking this complex case. Authorities are continuing their investigation into the complete money trail and exploring the possibility of involvement from other individuals.
This arrest highlights the growing threat of cyber fraud and the importance of vigilance among citizens, especially senior populations, against such sophisticated scams.
