Enforcement Directorate seizes assets in Hyderabad cyber fraud case

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ED seizes property in Hyderabad

Highlights

On 28-10-2026, the Enforcement Directorate searched three premises in Hyderabad and seized 6.40 lakh rupees in cash, documents and digital evidence.
The fraud investigation found that 260,289,261.57 rupees was routed through mule accounts and layered between 23.05.2023 and 27.05.2024.
The agency froze 11 bank accounts with a balance of 14 lakh rupees and identified plots and villas valued at around 5 crore rupees.

This article was translated from the original. Read the original version by our correspondent here.

Search operation and basis of the investigation

As stated by the Enforcement Directorate, its Kochi Zonal Office searched three premises in Hyderabad on 28-10-2026 under the Prevention of Money Laundering Act, 2002. The searches were conducted at premises linked to Allamraju Satyanarayana Murthy in connection with a cyber fraud case registered in Ernakulam.

The investigation began on the basis of an FIR registered at Ernakulam Cyber Police Station. According to the FIR, a complainant named Nimesh alleged that the accused induced him to invest by promising high returns through telephone calls and chat messages on the Telegram app. The complainant was told he would earn higher profits by trading through www.capitalix.com, after which he was persuaded to transfer a total of 247,621,042 rupees in multiple instalments to various bank accounts controlled by the accused.

The investigation has also revealed that the complainant was defrauded of a total of 260,289,261.57 rupees between 23.05.2023 and 27.05.2024. According to the agency, after receiving the funds, the money was transferred to various mule accounts, and transactions were deliberately layered to conceal its source.

Assets, accounts and regional impact

The Enforcement Directorate says its investigation found that Allamraju Satyanarayana Murthy set up several entities in the names of family members and employees, through which the funds were layered. These include BTR Industries, Velugu Trading Company, Aasritha Mega Solutions Pvt Ltd., Aasritha Infra Projects and Aasritha Infra Projects Pvt Ltd.

According to the agency, a villa project was also launched in Hyderabad in the names of Aasritha Infra Projects and Aasritha Infra Projects Pvt Ltd., while several immovable properties were purchased with proceeds of crime. During the searches, documents and digital evidence were seized, 6.40 lakh rupees in cash was recovered, 11 bank accounts with a combined balance of 14 lakh rupees were frozen, and plots and villas valued at around 5 crore rupees were identified.

The case highlights the growing links between investment fraud, digital communication platforms and alleged money-laundering networks. Further investigation is ongoing and may reveal additional assets, transaction chains and potential beneficiaries.

In our previous report, we covered the ED's money-laundering investigation into the Nexa Evergreen investment fraud case in Rajasthan, which had progressed to the filing of a prosecution complaint before a special court in Jaipur. That coverage reported allegations that funds raised through an alleged fake returns scheme were layered through multiple entities and accounts before being invested in immovable properties, and that several properties and bank/crypto accounts had been seized or frozen during the investigation.

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