Advocate Arrested in Rs 28000 Crore Cyber Fraud Case

• •Rashesh Upadhyay arrested in a Rs 28,000 crore cyber fraud case.
• •The fraud involved over 400 mule accounts and affected more than 300 victims.
• •The ED is investigating bribery and the network's financial operations.

Rashesh Upadhyay, an advocate, was arrested at Mumbai airport by the Enforcement Directorate (ED) in connection with a pan-India cyber fraud and money laundering case involving transactions worth Rs 28,000 crore. This arrest brings the total number of individuals apprehended in the case to seven. The investigation began after a woman from Goa reported losing Rs 2.60 crore to fraudsters who allegedly placed her under 'digital arrest' and coerced her into transferring money to multiple mule accounts. The ED claims Upadhyay played a crucial role in the network by facilitating the release of frozen bank accounts through bribery. The alleged fraud involved around 400 mule accounts linked to various companies, with reported losses exceeding Rs 400 crore across more than 300 victim complaints. The ED is currently tracing the proceeds of crime and identifying officials involved in the bribery scheme.