Hyderabad: The Cyberabad Police dismantled a large-scale organized financial fraud operation and arrested two persons of AV Solutions. The accused persons operated through advanced AI-powered investment platforms and Ponzi scheme tactics, luring investors with false promises of steady monthly returns based on deceptive stock market prediction software. They lured more than 3,000 individuals across multiple states.

Police arrested Gaddam Venugopal, director, AV Solutions and Srinivas Analytical Pvt. Ltd. Native of Prakasam District, Andhra Pradesh and Shreyas Paul, working with AV Solutions native of Ballari, Karnataka State. The accused persons were arrested in Hyderabad on August 19. Police seized two top end cars, 11 laptops, 3 mobiles, backend trading access, 3,164 customer database, 14 cheque books, 30 promissory notes (Rs 3.37 cr), property papers, company seals, Flats at Manikonda & Happy Homes, benami transactions.

According to police, the company was working with 20+ consultants and agents across major cities, technical developers and website administrators. A Muthyam Reddy, DCP Crime said that a total of 3,164 victims including 2,388 (AV solutions) and 776 (IIT Capital) across multiple states with total collections of Rs 850.59 Crores, and a fraudulent retention were Rs 232.36 Crores between 2022–2025 with 2-year dormancy. The primary companies include IIT Capital Technologies with fake registered address, Madhapur, AV Solutions – operated from Sri Nidhi Nest, Kondapur, Srinivas Analytics Pvt. Ltd. and Trade Bulls Technology Pvt. Ltd.

The fraudulent websites were - www.iitstockmarket.com, www.myshareprofit.com, www.avgroups.org, www.fehufin.com, www.tradeonnumbers.com, www.smalgo.com, www.srimaata.com and www.maheshwaraadvisoryservices.com.

The DCP said that the company works under false credibility by projecting fake NISM/NSE/BSE certifications, and organized investment seminars in Andhra Pradesh and Telangana. They targeted middle-class families, retired individuals, and working professionals, operated a referral-based recruitment system and used psychological profiling of victims to exploit vulnerabilities.

The company fraudulent investment operations with promised 7% monthly returns (84% annually) through fake AI-based predictions, designed fake dashboards displaying fabricated profits and adopted a Ponzi structure - of 20–30% for limited trading, 40–50% used to pay earlier investors and balance siphoned for personal gain.