Archive · 12 Oct 2026
Adilabad Police Arrest Two Men in Alleged Crypto Investment Fraud
Police in Adilabad arrested two men who helped run a company called ITC Global.
Police say the company collected money by promising people returns from a cryptocurrency business.
People were also promised commissions for bringing in new members.
Police estimate that about Rs 10 crore may have been collected in North Telangana.
The reported investments included Rs 7.50 lakh from the complainant and two other investments of Rs 7.50 lakh and Rs 6.21 lakh.
Police said some representatives were missing when investors asked for promised payments.
Officers registered cases and began an investigation.
The allegations have not been proven in court.
Adilabad police arrested two founders of ITC Global over an alleged cryptocurrency investment fraud.
Police said the scheme may have collected about Rs 10 crore from people in North Telangana and Andhra Pradesh.
Investors were reportedly promised high commissions for investing and bringing new members into the business.
The complainant and two other named investors reportedly put in Rs 7.50 lakh, Rs 7.50 lakh and Rs 6.21 lakh.
Police registered cases under IPC sections 420 and 409 and provisions of the Prize and Money Circulation Schemes (Banned) Act.
- Who
- Police arrested ITC Global founder Polamarashetti Rathna Raju and co-founder Dondapati Laxman Rao.
- What
- They are accused of collecting money through a cryptocurrency investment scheme promising high commissions.
- When
- Sunday; the article does not specify a date.
- Where
- Investments were reportedly collected in Warangal, Karimnagar, Nizamabad, Adilabad and Andhra Pradesh.
- Why
- The investigation followed a complaint from investor Juvvaka Narasimhulu, who sought repayment after investing.
- Arrested
- Polamarashetti Rathna Raju, 47, and Dondapati Laxman Rao, 46
- Company
- ITC Global
- Estimated amount
- About Rs 10 crore, according to police
- Complainant's investment
- Rs 7.50 lakh
- Other reported investments
- Rs 7.50 lakh and Rs 6.21 lakh
- Police case
- Registered under IPC sections 420 and 409 and sections 3 and 4 of the Prize and Money Circulation Schemes (Banned) Act
- Investigation
- Police said the case began after a complaint from Juvvaka Narasimhulu of Ruyyadi, Talamadugu