<p>A probe by the Hulimavu police under the Electronics City division into an investment fraud case led to the discovery of a gang operating mule accounts.</p>.<p>The police have arrested 12 suspects in connection with the cyber offence and recovered assets worth Rs 1 crore. Police also recovered a cryptocurrency ledger.</p>.<p>"The investment fraud of Rs 24 crore has been discovered relating to our case,” Bengaluru Police Commissioner Seemant Kumar Singh said on Wednesday.</p>.<p>The fraud is estimated at Rs 240 crore across 9,000 mule accounts identified in different parts of the country.</p>.How a dosa breakfast turned into a security concern at Bengaluru airport.<p>The probe began with an investment fraud case in which the victim believed he was investing with the promise of high returns, but the app that showed growing returns was fake. He lost Rs 3.03 crore.</p>.<p>The investigation led the police to two suspects who were opening bank accounts in the public’s names and handing them over to the prime suspect in Dubai, who remains at large. </p>.<p>“This was done for illegal monetary gain and to assist in the operation of illegal gambling applications,” the police said.</p>.<p>A case was registered and the police arrested two others, whose interrogation revealed they had deceived people in need of money by promising commissions and arranged for bank accounts to be opened in their names as mules. Further investigation led the police to arrest 10 suspects on December 17 at Rajendra Nagar, Delhi.</p>.<p>“As a result of the arrests, the police seized 242 debit cards, 58 mobile phones, 531 grams of gold ornaments, Rs 4,89,500 in cash, nine watches, 33 cheque books, 21 passbooks, seven laptops, one online digital payment ring, one cryptocurrency ledger and 48 SIM cards,” the city police said in a statement.</p>.<p>The arrested are Mohammed Huzaifa, 22, from JP Nagar; Ankith Kumar Singh, 32, and Akash Jaisawal, 29, from Uttar Pradesh; Ajith Kumar Yadav, 29, from Bihar; Sathyamkumar Pandey, 27, from Jharkhand; and Abhishek Singh Rathod, 22, Vishwaraj Singh, 28, Kushal Singh, 26, Pradeep Singh, 30, Pitambar Singh, 30, and Ajay Kumar, 30, all from Rajasthan.</p>.<p>“Huzaifa created mule accounts, while Ankith and Ajith coordinated with the absconding mastermind. Sathyamkumar promoted 'Swamiji.com', an online gaming website used to launder money. The rest handled the mule accounts on the website,” a police investigator told <span class="italic">DH</span>.</p>
<p>A probe by the Hulimavu police under the Electronics City division into an investment fraud case led to the discovery of a gang operating mule accounts.</p>.<p>The police have arrested 12 suspects in connection with the cyber offence and recovered assets worth Rs 1 crore. Police also recovered a cryptocurrency ledger.</p>.<p>"The investment fraud of Rs 24 crore has been discovered relating to our case,” Bengaluru Police Commissioner Seemant Kumar Singh said on Wednesday.</p>.<p>The fraud is estimated at Rs 240 crore across 9,000 mule accounts identified in different parts of the country.</p>.How a dosa breakfast turned into a security concern at Bengaluru airport.<p>The probe began with an investment fraud case in which the victim believed he was investing with the promise of high returns, but the app that showed growing returns was fake. He lost Rs 3.03 crore.</p>.<p>The investigation led the police to two suspects who were opening bank accounts in the public’s names and handing them over to the prime suspect in Dubai, who remains at large. </p>.<p>“This was done for illegal monetary gain and to assist in the operation of illegal gambling applications,” the police said.</p>.<p>A case was registered and the police arrested two others, whose interrogation revealed they had deceived people in need of money by promising commissions and arranged for bank accounts to be opened in their names as mules. Further investigation led the police to arrest 10 suspects on December 17 at Rajendra Nagar, Delhi.</p>.<p>“As a result of the arrests, the police seized 242 debit cards, 58 mobile phones, 531 grams of gold ornaments, Rs 4,89,500 in cash, nine watches, 33 cheque books, 21 passbooks, seven laptops, one online digital payment ring, one cryptocurrency ledger and 48 SIM cards,” the city police said in a statement.</p>.<p>The arrested are Mohammed Huzaifa, 22, from JP Nagar; Ankith Kumar Singh, 32, and Akash Jaisawal, 29, from Uttar Pradesh; Ajith Kumar Yadav, 29, from Bihar; Sathyamkumar Pandey, 27, from Jharkhand; and Abhishek Singh Rathod, 22, Vishwaraj Singh, 28, Kushal Singh, 26, Pradeep Singh, 30, Pitambar Singh, 30, and Ajay Kumar, 30, all from Rajasthan.</p>.<p>“Huzaifa created mule accounts, while Ankith and Ajith coordinated with the absconding mastermind. Sathyamkumar promoted 'Swamiji.com', an online gaming website used to launder money. The rest handled the mule accounts on the website,” a police investigator told <span class="italic">DH</span>.</p>
