Key Points

The Cyber Crime Police Station, Kochi, has registered a case under Sections 316(2) and 328(4) of the Bharatiya Nyaya Sanhita (BNS) in connection with the case, in which the victim has been identified as Nimesh E.

According to police, the fraud occurred between March 15, 2023, and August 29, 2025. The victim was lured into the scheme primarily through the messaging platform Telegram.

The scammers, operating under the name 'Daniel' and using a fake website, www.capitalix.com, and through a Telegram account @capitalix_bot, tricked the victim into transferring Rs 24.76 crore in multiple instalments.

The fraud came to light when the complainant was unable to withdraw the invested amount. Cyber Police have sought the assistance of banks to trace the funds, officials said.

Meanwhile, in another cybercrime, the Economic Offences Wing (EOW) of Cyberabad Police arrested an official of the Insurance Regulatory and Development Authority of India (IRDAI) for alleged forgery, cheating, and misappropriation of Rs 5.30 crore.

An FIR is filled with number53/2025 was filled under appropriate section including 318(4), 316(5), 338, 336(3), 340(2), 344 r/w 61(2) BNS 2023 of EOW PS, Cyberabad.

The accused, Bhaskarabhatla Suryanarayana Sastry, Assistant Manager in the General Administration Department of IRDAI, residing in Shaikpet, Hyderabad, allegedly created forged invoices, office notes, and quotations to divert IRDAI funds into his own and his family members' bank accounts, thereby defrauding IRDAI, a release said.

According to the release, the police arrested Bhaskarabhatla Suryanarayana Sastry, Assistant Manager in the General Administration department of the Insurance Regulatory and Development Authority of India (IRDAI), residing at Shaikpet, Hyderabad.

The accused Bhaskarabhatla Suryanarayana Sastry, Assistant Manager, took hand loans from multiple persons, thereby falling into a huge debt trap. To repay his previous debts, he hatched a premeditated plan to divert the funds from the Insurance Regulatory and Development Authority of India (IRDAI). In this regard, he created fake/forged invoices, office Notes, quotations, and other documents, and processed the payment files for approval with higher officials. He also collected the bank account details of his family members and inserted them in place of the original vendors' bank accounts with IRDAI. Once the higher officials approved the note files, he forwarded them to the Accounts Department, along with the invoices and quotations for payment, the police said.

- ANI