Cyber Fraud Probe Reveals Accused’s Alleged Kenya Mining Links in ₹24.76-Crore Scam

Kochi: In a major cyber fraud case involving the cheating of an Ernakulam resident out of ₹24.76 crore through a fake online trading scheme, investigators have uncovered that the prime accused, Allamraju Satyanarayana Murthy (36), allegedly owns mining operations in Kenya. The probe team suspects that money funneled into his accounts by cyber fraud networks was used to purchase these mines. Murthy was arrested within a week of returning to Hyderabad from Kenya. Police have now intensified the search for his absconding associate, Varada Reddy.

According to investigators, Murthy acted as a key money-laundering operative, receiving funds generated through cyber fraud and routing them into investments. He allegedly used the money to acquire mining assets and fund large-scale real estate projects through his construction company, including multi-storey buildings in Hyderabad’s Silicon City area. Officials believe he controlled a real estate empire worth nearly ₹1,000 crore based out of Hyderabad.

Investigators also found that Murthy was living in a luxury apartment worth several crores in central Hyderabad and is believed to have maintained close ties with senior leaders of the Congress party in Telangana. Authorities suspect he may have acted as a benami operator for several political figures. He had previously served a jail term in connection with a ₹300-crore cyber fraud case in Hyderabad. To gather further evidence, investigators are expected to take Murthy and co-accused Banka Tyson Raju into custody later this week for detailed questioning.

Murthy and Tyson Raju, both natives of Hyderabad, were arrested by the Kochi Cyber Police on Sunday. Investigators revealed that nearly ₹16 crore of the defrauded amount had been transferred directly into Murthy’s bank accounts.

The fraud was allegedly carried out through a website called “Capitalix,” which convinced the victim that online trading through the platform would generate high returns. The accused reportedly siphoned off ₹24,76,21,042 through 90 separate transactions routed across 25 bank accounts between March 15 and August 29, 2023.