Andhra man arrested for duping many in fake stock mkt schemes
The accused was nabbed after a months-long technical operation spanning across Haryana, Delhi, Telangana, and Andhra Pradesh.
Deputy commissioner of police (Crime) Kundan Kanwaria said the accused has been identified as Palli Venkat Ramanjaneyulu.
"Acting on a complaint filed on Nov 17, 2024 at the Cyber Police Station, the team launched a detailed investigation. The complainant alleged that he was cheated through multiple transactions under the guise of investing in a fraudulent online stock trading platform," Kanwaria said.
Two other accused were already arrested earlier in connection with the case. Further technical analysis of the bank accounts revealed that Rs 1.42 crore was transferred to Ramanjaneyulu's account. Cyber investigators then examined his mobile usage patterns and digital trail. He was on the run, frequently changing locations and mobile devices to evade capture.
After three months of sustained tracking, the accused was finally traced to Krishna district in Andhra Pradesh and apprehended on 11 July 2025.
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He was brought to Jaipur on a transit warrant and produced in court, which remanded him to police custody. He is now in judicial custody.
The accused operated a fake WhatsApp profile to contact victims, shared links to fraudulent stock trading websites, and persuaded them to invest. In the initial phase, small profits—actually diverted from the deposits of other victims—were paid to build trust. Once larger amounts were invested, he offered excuses for not returning the money and eventually cut off contact.
The cyber team has collected extensive digital evidence, examined bank transactions, and continues to analyse data linked to related accounts. Investigations are ongoing to identify more victims and potential accomplices.
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