New Delhi, March 28 Five individuals have been arrested for allegedly providing mule bank accounts to cyber fraud syndicates, with links to Dubai, police said on Saturday.
The case involves the defrauding of a man to the tune of over Rs 12 lakh under the pretext of stock market investment, they said.
The police arrested Shridhar Dilip Ingle, 25, Archiryan Goraksh Kamble, 21, Ajij Miran Shaikh, 25, Pranav Jalinder Guldagad, 24, and Vishal Durgadas Bachal, 25.
Police said the case came to light after the victim filed a complaint, alleging that he was induced to invest in stocks through a purported firm, and transferred Rs 12,22,670 after being promised high returns.
During the investigation, the police found that the group was operating out of Maharashtra and apprehended Ingle from Shrirampur.
Following this, the others were arrested from different places, police said.
The accused were part of a network that procured bank accounts from people and supplied them to cyber fraudsters for a commission. Later, they used them to route and withdraw defrauded money.
Police said that Ingle confessed he was in touch with an associate based in Dubai, to whom the accounts were supplied for further use in cyber fraud operations.
At least 18 complaints have been filed against the accused on the NCRP portal, police said, adding that bank accounts handled by them show transactions worth several crores across multiple states.
Additionally, police recovered six mobile phones and details of 35 bank accounts used in the crime, they said.
