Police bust mule bank network linked to 54 cybercrime cases worth ₹10 crore, four arrested; Chinese national under scanner
Police identified 20 mule bank accounts and links to 54 cybercrime cases across India
A Chinese national is suspected of running a network of mule bank accounts used to launder proceeds from online investment scams in India, according to a recent cybercrime investigation. Four men were arrested in Hyderabad for allegedly facilitating the movement of fraudulent funds through bank accounts created in the names of others.
The arrests came after a woman reported losing ₹37.40 lakh after being misled into investing in fraudulent online trading platforms via WhatsApp. Police identified 20 mule bank accounts used to receive and transfer proceeds from cyber fraud. The arrested suspects include Panduraju Abhishek, Maroju Subrahmanya Chari, Gedela Nani, and Alamanda Manikanta, all from Bhimavaram in Andhra Pradesh.
Abhishek, an interior designer facing financial difficulties, allegedly contacted the Chinese national through WhatsApp, who offered him commissions in exchange for arranging mule bank accounts and SIM cards. Abhishek then approached the other three suspects and offered them ₹10,000 for each account they arranged. Police seized various electronic devices and documents from Abhishek's possession and are investigating links to 54 cybercrime cases across India worth nearly ₹10 crore.
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