Police in Vijayawada’s Central Zone have successfully busted a sophisticated financial fraud operation, arresting a couple and two key agents involved in a widespread trading scam. The arrests, made on Tuesday, follow an extensive investigation into a private company accused of defrauding numerous unsuspecting individuals.
The individuals taken into custody have been identified as Tadepalli Sri Venkata Aditya, his wife T. Sujatha, and agents Gadamsetti Balakrishna Murthy and his wife, G. Nagalakshmi Kumari. All four suspects are residents of Vijayawada.
According to Police Commissioner S.V. Rajashekar Babu, the investigation revealed that Aditya founded Advika Trading Company in 2022. Operating for several years, the company managed to illicitly collect an astonishing sum of nearly ₹400 crore from approximately 1,450 customers. The scheme unraveled after the accused recently shut down the company and went into hiding. A formal complaint from a defrauded customer prompted the police to initiate a case, leading to the apprehension of the suspects.