KARIMNAGAR, SEPTEMBER 12, 2025: The Karimnagar Rural Police arrested former BRS corporator Katla Satish, one of the main accused in the case of cheating people by promising triple profits if they invest in cryptocurrency. The arrest was made on the orders of Karimnagar Police Commissioner Shri Ghaus Alam and Karimnagar Rural ACP Vijay Kumar on Friday.
According to official sources, a person named Nunsawat Bhaskar from Teegalaguttapalli filed a complaint at the Karimnagar Rural Police Station on September 11, 2025. The complaint states that former corporator Katla Satish from Kothirampur is an acquaintance of his and that he had promised to invest in a scheme called ‘Meta Fund Crypto’. Satish had assured him that if he invested ₹50 lakh in this scheme, he would get three times the profits. Believing Satish’s words, Bhaskar gave Satish ₹15 lakh in June last year (2024). Moreover, when Satish said that if more people were included in this scheme, more profits would be obtained, Bhaskar also included 17 other acquaintances of his in this scheme. Through those 17 people, Satish collected a total of ₹1.20 crore in June last year (2024). He had promised them that he would give them three times the profits in three months. However, the victims said in their complaint that not a single rupee has been returned so far.
The victims alleged that Satish was threatened by the police when they asked for money. On this, Karimnagar Rural Inspector A. Niranjan Reddy, CCS CI Prakash Goud, Rural SIs Naresh, Tirupati and staff arrested the accused. An iPod, two mobile phones, and some bank account details were seized from Satish.
The police said that Satish has been sent to court and remanded. Inspector A. Niranjan Reddy said that two other accused in this case are absconding and they will also be arrested soon. The Police Commissioner congratulated the police personnel for cracking the case quickly and arresting the accused.
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