ED seizes ₹6.40 lakh cash, freezes 11 accounts in Hyderabad cyber fraud raid
Synopsis
The ED's Kochi Zonal Office raided three Hyderabad premises linked to alleged cyber fraudster Allamraju Satyanarayana Murthy, seizing ₹6.40 lakh in cash, freezing 11 accounts, and identifying ₹5 crore worth of properties. The victim was allegedly cheated of ₹26.02 crore through a fake trading website, with funds layered through a web of shell firms.
Key Takeaways
The ED Kochi Zonal Office searched three premises in Hyderabad on 28 October 2026 under the PMLA, 2002 . ₹6.40 lakh in cash was seized and 11 bank accounts with a balance of ₹14 lakh were frozen.
Victim Nimesh was allegedly defrauded of ₹26.02 crore between May 2023 and May 2024 via fake investment platform www.capitalix.com .
Accused Allamraju Satyanarayana Murthy allegedly used five shell entities including BTR Industries and Aasritha Infra Projects to layer funds.
Immovable properties — plots and a villa — valued at approximately ₹5 crore were identified as alleged proceeds of crime.
The Directorate of Enforcement (ED), Kochi Zonal Office, on 28 October 2026 conducted search operations at three premises in Hyderabad linked to an alleged cyber fraud scheme, seizing ₹6.40 lakh in cash, freezing 11 bank accounts holding a combined balance of ₹14 lakh, and collecting digital evidence, officials said on Friday. The searches were carried out under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a case registered at Ernakulam.
Background: The Fraud Complaint
The ED investigation was triggered by an FIR registered at the Cyber Police Station, Ernakulam, on a complaint filed by a victim identified as Nimesh. According to the FIR, Nimesh alleged that he was lured through telephonic communications and chat messages on the Telegram app, with the accused promising high returns through investments on the website www.capitalix.com. Investigators say the complainant was induced to transfer funds in multiple instalments to bank accounts controlled by the accused.
Scale of the Alleged Fraud
The ED said the complainant was defrauded of ₹26.02 crore between 23 May 2023 and 27 May 2024. The accused reportedly induced the transfer of an aggregate sum of ₹24.76 crore across several instalments to various accounts before failing to return either the promised profits or the principal amount, thereby allegedly committing cheating and criminal breach of trust.
Money Trail and Shell Entities
After receiving the funds, the accused allegedly transferred the money into multiple mule accounts, with deliberate layering designed to obscure the source. Investigators identified Allamraju Satyanarayana Murthy as having floated several entities — in the names of family members and employees — to facilitate this layering. The entities identified include BTR Industries, Velugu Trading Company, Aasritha Mega Solutions Pvt Ltd, Aasritha Infra Projects, and Aasritha Infra Projects Pvt Ltd.
Properties and Assets Identified
The ED also revealed that a Villa Project in Hyderabad was launched under the names of Aasritha Infra Projects and Aasritha Infra Projects Pvt Ltd. Investigators said the accused acquired multiple immovable properties — including plots and a villa — valued at approximately ₹5 crore from the alleged proceeds of crime. Incriminating documents and digital evidence were seized during the searches.
What Happens Next
This is the latest enforcement action in a broader ED push against investment-linked cyber fraud operations across India, where platforms mimicking legitimate trading portals are used to siphon retail investor funds. With immovable assets identified and bank accounts frozen, formal attachment proceedings under PMLA are expected to follow. The agency has not yet disclosed whether any arrests have been made in connection with this case.
Frequently Asked Questions
What did the ED find during the Hyderabad raids in the cyber fraud case?
The ED seized ₹6.40 lakh in cash, froze 11 bank accounts with a combined balance of ₹14 lakh, and collected digital and documentary evidence during searches at three Hyderabad premises on 28 October 2026. Investigators also identified immovable properties — including plots and a villa — valued at about ₹5 crore as alleged proceeds of crime.
Who is Allamraju Satyanarayana Murthy and what is his alleged role?
Allamraju Satyanarayana Murthy is the key accused identified by the ED in this cyber fraud case. He allegedly floated multiple shell entities — including BTR Industries, Velugu Trading Company, and three Aasritha-branded firms — in the names of family members and employees to layer and conceal the alleged proceeds of crime.
How much money was the victim allegedly defrauded of?
According to the ED, the victim Nimesh was cheated of ₹26.02 crore between 23 May 2023 and 27 May 2024. He was allegedly induced through Telegram messages to invest in a fake trading platform at www.capitalix.com, and transferred funds in several instalments to accounts controlled by the accused.
Under which law did the ED conduct these searches?
The searches were conducted under the Prevention of Money Laundering Act (PMLA), 2002, by the ED's Kochi Zonal Office. The investigation was initiated on the basis of an FIR registered at the Cyber Police Station, Ernakulam.
What is expected to happen next in the case?
With bank accounts frozen and immovable properties identified, formal attachment proceedings under the PMLA are expected to follow. The ED has not yet disclosed whether any arrests have been made in connection with the case.
