Nellore Police Bust Online Betting Racket; ₹1.6 Crore Frozen, Two Arrested

In a major crackdown on online financial fraud, police in Nellore have arrested two individuals accused of duping investors with promises of high returns and diverting the funds into online cricket betting.

Addressing a press conference at the district police office on Saturday, Superintendent of Police Ajitha Vajendla said the accused — Kushetty Venugopal (23) and Bithra Venkata Ramana (31) from Buchireddypalem — operated as a syndicate targeting unsuspecting individuals. They allegedly lured victims by offering lucrative investment schemes and later siphoned off the collected money into an online betting platform called “Radhe Exchange (R777)” without their knowledge.

The fraud came to light after a resident of NTR Nagar in Nellore city reportedly lost around ₹53 lakh. Following a complaint, police launched surveillance operations and apprehended the duo.

According to officials, Venugopal acted as the key organiser of the racket, while Venkata Ramana was responsible for collecting cash from gamblers. Police further revealed that the accused allegedly used intimidation tactics, including brandishing knives, to silence disputes related to betting transactions.

During the operation, police seized two hunting knives, 13 mobile phones allegedly used in the fraud, a laptop, monitor, and a television.

₹1.6 Crore in Accounts Frozen

Authorities froze approximately ₹1.6 crore lying in the accused’s bank accounts and also recovered ₹34 lakh in cash from their possession.

Cases have been registered under Sections 318(4) (cheating) and 351(2) (criminal intimidation) of the Bharatiya Nyaya Sanhita, along with relevant provisions of the IT Act, AP Gaming Act, and Arms Act. Police said efforts are underway to identify and arrest other members involved in the network.

The investigation is ongoing.