Bengaluru cyber fraud: Probe into Rs 1.52 crore cheating case leads to 6 bank accounts linked to 254 nationwide crimes, Rs 97 crore funds

The arrested slope officials person been identified arsenic Kishore Sahu, a manager of the Axis Bank Nagarbhavi branch, B Manohar, a income manager, and income executives Karthik and Rakesh. The constabulary person besides arrested Lakshmikanth, Raghu Raj, Kengegowda, and Mala, who opened mule accounts astatine the Axis Bank subdivision for teh transportation of funds defrauded from victims who wanted to marque large wealth done online stock trading.

The main operators of the cyber fraud who contacted victims online and received wealth defrauded from the victims are inactive astatine ample and efforts are underway to way them down, constabulary sources said. Some of the accused are suspected to beryllium successful a overseas country, the sources added.

Online stock trading fraud case

On July 1, the 52-year-old antheral filed a ailment with the cyber transgression constabulary presumption successful Bengaluru stating that helium had been cheated of Rs 1.52 crore betwixt March 2024 and June 2024 by cyber fraudsters who promised to supply large returns done a VIP online stock trading tips and absorption application.

The unfortunate said helium was contacted connected WhatsApp by a pistillate who claimed that her subordinate was a prof and had bully cognition astir stock trading and investigation and that helium could assistance him marque money. The unfortunate was included successful a radical with implicit 110 members. He besides downloaded a trading app indicated connected the online group.

According to the constabulary complaint, the unfortunate transferred Rs 1.52 crore from aggregate accounts to the trading relationship created astatine the lawsuit of online acquaintances betwixt April and May 2024. In June, his relationship showed returns of Rs 28 crore and the unfortunate sought to encash the returns but was told to wage Rs 75 lakh to entree the wealth and this led to suspicion of cheating and the filing of the constabulary complaint.

Suspicious slope accounts

When the constabulary began their probe into the case, they recovered the wealth fixed by the unfortunate was chiefly transferred to 2 Axis Bank accounts successful Bengaluru. “When we conducted investigations astatine the bank, we recovered that isolated from the 2 accounts linked to the crime, 4 different akin accounts were opened astatine the slope connected the aforesaid day,” said a constabulary source.

The constabulary recovered that the suspicious slope accounts astatine the Axis Bank subdivision were opened by those who lived successful Chikamagalur, which is astir 300 km distant from Bengaluru.

“The concern accounts were allowed to beryllium opened astatine the slope without due verification. The slope accounts utilized for the frauds were perchance allowed to beryllium opened by the slope officials connected the ground of commissions promised by the operators of the scam,” said B Dayananda, Commissioner, Bengaluru police, aft the apprehension of the slope officials and the mule relationship holders this week.

The constabulary person besides recovered that the slope executives travelled to a edifice extracurricular Bengaluru nether the pretext of verification of the biometrics of the relationship holders adjacent though accounts could person been referred to beryllium opened successful the portion wherever the relationship holders lived.

“All the accounts that were opened were existent accounts. Several crores of funds travelled done these accounts but nary intimation was fixed to instrumentality enforcement agencies. There was a anticipation of freezing implicit Rs 40 crore aft being alerted of the accounts being utilized for fraudulent activities,” a cybercrime authoritative said.