Ahmedabad, April 2 (IANS) The Ahmedabad Cyber Crime Branch has uncovered a network of bank accounts linked to at least 41 cyber fraud complaints across India, and has arrested six individuals accused of facilitating financial transactions for a wider cryptocurrency scam syndicate.
The arrests follow a complaint alleging that a local resident was duped of Rs 57.9 lakh after being lured into a fake cryptocurrency investment scheme promising high returns.
Police said a key accused, identified as Mayur Savaliya and believed to be operating from Dubai, remains absconding.
According to investigators, the victim was contacted on Facebook and gradually drawn into a conversation before being persuaded to invest in cryptocurrency.
He was instructed to download a mobile application named “CBOE US” and invest in USDT (Tether).
Over approximately 24 transactions, he transferred Rs 57.9 lakh into multiple bank accounts provided by the accused.
When the victim later attempted to withdraw his funds, he was asked to make additional payments under various pretexts, prompting suspicion and leading to a complaint with the Cyber Crime Police Station.
A probe combining technical surveillance and human intelligence traced the movement of funds into a set of bank accounts allegedly arranged by the accused.
Officials said five primary accounts were used, four of which have been linked to at least 41 cyber fraud cases registered in different states.
Preliminary findings indicate that these accounts handled transactions totalling approximately Rs 1.5 crore.
The accounts were opened under the name “Crystal Interior Designers Private Limited” across multiple banks, including Bandhan Bank, ICICI Bank, IndusInd Bank, and Yes Bank.
Police said the accused acted as account holders and facilitators, enabling the routing and withdrawal of funds obtained through fraud.
During the investigation, officers also identified a broader network involving intermediaries and handlers operating across states.
The accused allegedly coordinated the opening of bank accounts, managed transactions, and, in some instances, transported account holders to Delhi to carry out financial activities.
The six arrested have been identified as Tahir Belim, 42, a resident of Sarkhej; Adnan Sheikh, 28, a trader near Relief Road; Ajaz Sheikh, 34, a businessman from Dariyapur; Omkar Goswami, 28, with links to Amreli and Surat; Maqsud Mirza, 39; and Sunny Ashok Kumar Maggo, 38, a resident of Uttam Nagar in Delhi.
Police said the Delhi-based accused allegedly shared bank account details with Savaliya, who is suspected to have coordinated the operation from Dubai and transmitted instructions to members of the syndicate in India.
ACP Hardik Makadia said: “The entire modus operandi is such that a person was sent a friend request on Facebook, a relationship was developed, and then the victim was lured into investing in cryptocurrency with promises of high returns.”
He said the victim was made to download applications and deposit money into what were presented as cryptocurrency wallets, adding, “Instead of genuine investment, the accused provided different bank account numbers. The victim deposited a total amount of Rs 57.9 lakh through around 24 transactions into these accounts.”
Preliminary investigation has revealed that these accounts have been used in around 41 different complaints registered across the country”.
The case has been registered under sections 316(2), 318(4), and 61(2) of the Bharatiya Nyaya Sanhita, along with sections 66(C) and 66(D) of the Information Technology Act.
Officials said further investigation is underway to trace the money trail, identify additional victims, and apprehend the absconding accused, while examining the role of others linked to the operation.
--IANS
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