Two arrested for diverting investment funds to cricket betting app

Two persons were arrested in Andhra Pradesh for allegedly cheating investors by promising attractive returns and diverting the collected money to online cricket betting platforms. The accused were identified as Kushetti Venu Gopal (23) and Bitra Venkata Ramana (31), residents of Ramakrishna Nagar in Buchireddypalem village of Nellore district.

According to Nellore district Superintendent of Police Ajitha Vajendla, the duo induced victims with assurances of profits on investments and later channelled the funds into online cricket betting through the Radhee Exchange App (R777). Police seized over Rs 34 lakh in cash and froze around Rs 1.6 crore in the accused persons’ bank account. The case surfaced on February 19 after a resident of NTR Nagar in Nellore city lodged a complaint, stating he was persuaded to participate in online betting and lost nearly Rs 53 lakh.