Overview
- Madathala Ramesh Reddy, Gandi Srinu, and Gurrapūkonda Sridhar were detained in Andhra Pradesh in three cases registered in Hyderabad.
- Investigators estimate combined victim losses at more than ₹59 lakh linked to the three Hyderabad complaints.
- Victims were funneled from WhatsApp and Telegram groups to fake trading and crypto platforms, including SMC STK and the valiantcapital app.
- Police say the accused acted as facilitators by opening bank accounts and selling their access credentials for commissions to organised cyber syndicates.
- Authorities urged investors to verify platforms on SEBI’s website, avoid promises of unrealistic returns, and report suspicious offers as the probe continues.