9 arrested in ₹1,500cr multi-state cyber fraud racket
What's the story
The Rajkot Rural Police in Gujarat have arrested nine people in connection with a ₹1,500 crore cyber fraud case. The arrests include three people who were nabbed on Wednesday, NDTV reported. Telangana's Adiluddin Mohammed was arrested for his role in transferring money into mule accounts and receiving it back through traditional courier channels known as "angadia." The other two arrested are Mihir Rangani and Hiren Limbasiya from Rajkot, who provided bank accounts and facilitated transactions.
Scheme details
Fraudsters opened 15 bank accounts to launder money
Rajkot (Rural) Superintendent of Police Vijay Gurjar was quoted as saying that the fraud was carried out by opening 15 accounts in different private banks, which were operated through Agricultural Produce Market Committees (APMCs). These APMC accounts were chosen as they had different GST and TDS compliance requirements, making them easier to misuse. The funds funneled through these accounts included proceeds from cyber fraud, gaming transactions, and GST-related activities.
Victim reports
180 complaints registered on cyber crime portal-1930
So far, 180 complaints have been registered on the Cyber Crime Portal-1930. These include 21 complaints from Gujarat involving ₹2.94 crore and 159 complaints from other states amounting to ₹20.21 crore. The investigation has revealed transactions of around ₹1,500 crore through these accounts. The probe also found an account in a Yes Bank branch in Moviya under M/s Jyot Trading Company with transactions worth ₹200 crore.
Legal action
Police appeal not to rent or lend bank accounts
The six accused arrested on February 13 were booked under BNS sections 317(2), 317(5), 318(4), 61(2), 54, and sections 66(d) of the Information Technology Act. They are currently in judicial custody, The Indian Express reported. The police have appealed to the public not to rent or lend their bank accounts, as they could be held liable for proceeds of crime transacted through their accounts. Further investigation is underway in this case.