The Kochi Cyber Police, which is investigating a major online trading scam in which a pharmaceutical trader was defrauded of ₹25 crore, has arrested two men from Hyderabad. The arrested men have been identified as Allamraju Satyanarayana Murthy, 36, and Banka Tyson Raju, 34, who allegedly handled around ₹16 crore of the defrauded amount. Five people have already been arrested in the case.
The fraud was allegedly carried out through a website allegedly based in Cyprus. Victims were allegedly lured into online trading with promises of high returns. Cases have been registered against the platform in several states, the Kochi city police said in a report.
The investigation team traced the accused to Hyderabad and arrested them after obtaining warrants. The pair allegedly led a lavish lifestyle and used the proceeds of crime. Police said Mr. Murthy, a former IT employee, owns an IT firm and a construction company. Investigators suspect that his rapid business expansion was financed through cyber fraud.
Published – May 6, 2026 0:03 AM IST
