Cyber Fraud Syndicate Busted Across Multiple States

A cyber fraud syndicate that defrauded people of over Rs 10 crore across several states through fake online trading platforms has been dismantled. Four members have been arrested following a police investigation, revealing their involvement in multiple cybercrime cases across Karnataka, Maharashtra, Gujarat, Tamil Nadu, and other states.

A sophisticated cyber fraud syndicate dismantled by the local police had defrauded victims of over Rs 10 crore through deceptive online trading platforms spanning several states.

Four individuals, including Atul Kumar and Varsha Sharma, were apprehended on November 20, following a detailed probe sparked by a complaint from a man swindled out of Rs 49.35 lakh. Officials confirmed multiple connections to over 67 cybercrime cases across Karnataka, Maharashtra, Gujarat, Tamil Nadu, and others.

The fraudulent operation utilized mule bank accounts, exploiting financially vulnerable individuals, to funnel and camouflage illicit funds. Key operative Ajay Sharma organized multiple accounts facilitating the operation, while others were complicit in routing significant sums through these channels. Authorities continue to investigate further links to potential digital arrest scams.

(With inputs from agencies.)