Hyderabad Police Detain YouTube Educator for Alleged Chartered Accountant Scam

Introduction:

In a recent development, Hyderabad law enforcement has apprehended Srinath Rathi, a 29-year-old proprietor of a YouTube educational channel, on accusations of deceiving chartered accountants. Rathi purportedly tempted them with fictitious promises of substantial investment returns, leading to a combined loss of Rs 2.48 crore.

Background:

Srinath Rathi, operating a YouTube channel bearing his name, exploited this platform to earn the trust of chartered accountants. He enticed them into investing funds by offering enticing returns on their investments.

Victims’ Accounts:

Multiple victims, including chartered accountants from Hyderabad, fell victim to Rathi’s ploy. Initially, Rathi returned nominal amounts to gain their trust, only to sever all communication later.

Investigation and Legal Action:

Following complaints from numerous victims, the Cyber Crime Station (CCS) launched an investigation. According to CCS Inspector D. Bikshapathi, Rathi defrauded over 10 chartered accountants, resulting in a total loss of Rs 2.48 crore. Victims lodged complaints with the Hyderabad CCS, resulting in Rathi’s detention.

Victims’ Testimonies:

One anonymous victim shared their interaction with Rathi. Initially, Rathi fulfilled promised amounts, fostering a false sense of trust. However, as interactions progressed, Rathi began citing delays in payments.

Rathi’s Deceptive Tactics:

On February 11, Rathi persuaded a victim to remit Rs 10 lakh under the guise of purchasing gold, promising prompt repayment. Despite owing the victim Rs 8 lakh, Rathi failed to fulfill his obligation. Subsequent attempts to contact Rathi proved futile, prompting the victim to file a police complaint.

Legal Proceedings and Hope for Justice:

Upon investigation, it emerged that Rathi had multiple complaints filed against him at the police station. Victims express apprehension regarding the funds they invested and are optimistic about seeking justice through legal avenues.

Conclusion:

Srinath Rathi’s detention sheds light on the prevalence of fraudulent schemes targeting unsuspecting individuals, particularly chartered accountants in this instance. The incident underscores the importance of exercising prudence and conducting thorough due diligence before engaging in financial transactions, especially through online platforms such as YouTube channels.