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Visakhapatnam: Cops bust betting racket, arrest 11
Deputy commissioner of police-1 K Srinivasa Rao briefing the media in Visakhapatnam on Friday
The racket involved transactions to the tune of Rs 367 cr
Visakhapatnam: The cybercrime police arrested 11 persons for their involvement in a cricket betting racket that led to Rs 367 crore worth transactions.
The betting was carried out through online apps and the police froze Rs75 lakh.
Sharing details with the media on Friday, deputy commissioner of police-1 K Srinivasa Rao said the gang was traced based on the complaint lodged by a victim Y Sattibabu in the weekly grievance programme Spandana in Visakhapatnam. The complainant said that he was cheated by the gang to the tune of Rs8 lakh.
The victim is said to be close to one M Reddy Suribabu of Atchutapuram, who is one of the main accused in the case. He convinced Sattibabu to be involved in the betting and also made him lose Rs8 lakh in the process.
Upon interrogation, it is learnt that Suribabu was sending the betting collection to H Dinesh Kumar alias Mosu, owner of a travel agency.
The police froze 63 bank accounts and identified transactions made to the tune of Rs367 crore through 36 bank accounts.
Online platforms such as EXCH333, EXCH666, LORDS EXCH, GO PUNT and Betway were used by the accused for making the betting deals.
For each match, betting was carried out for Rs4 lakh. Annually, the betting collection would reach Rs6 crore. B Sreenu, G Siva, K Srinivasa Rao, A Nuka Raju, Avinash, U Konda Babu, U Venkateswarulu, S Ganesh, D Nuka Raju and V Vasudeva Rao were among those who were taken into custody.
