Thehindu ₹45 lakh Cyber Fraud Investigation Uncovers ₹70 Crore Mule Account Network
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- •Investigation linked to ₹70 crore in cyber fraud across nearly 450 cases.
- •Two suspects arrested for collecting bank accounts and SIM cards for fraud.
- •Victim lost ₹7.93 lakh after being promised ₹45 lakh for an old ₹1 note.
A cyber fraud investigation in Hyderabad revealed a mule account network linked to ₹70 crore in transactions. A resident was cheated out of ₹7.93 lakh after being promised ₹45 lakh for an old ₹1 note. Two suspects, Gumma Ramesh and Mudale Anil, were arrested for collecting bank accounts and SIM cards from individuals to facilitate cyber fraud. The police traced nearly 450 cases across India to this network, which involved fraudulent transactions estimated at ₹60 crore to ₹70 crore. The investigation began after a complaint was filed on September 25, leading to the arrests on October 8. The suspects reportedly admitted to their roles in supplying accounts and SIM cards to cybercriminals for financial gain. The investigation is ongoing, focusing on the broader financial network and other accomplices.
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