Bhopal News: Accused Having Links With International Cyber Fraudsters Held

Bhopal (Madhya Pradesh): Cyber crime branch police on Wednesday arrested a key accused involved in Rs 9.35 lakh online share trading scam while nabbing him from Calicut International Airport, from where he was attempting to flee to Dubai.

The accused Nizam, a resident of Kasargod district in Kerala, was allegedly selling mule bank accounts opened in India to cyber fraudsters operating from UAE.

Additional DCP (crime) Shailendra Singh Chauhan said Mohd Zainul, a resident of Koh-e-Fiza, lodged a complaint about share trading investment fraud with him committed by one Karan Birla through an App- PMHDFC.

Investigations revealed that the defrauded money was transferred across multiple bank accounts and withdrawn from ATMs in Dubai. Based on technical analysis of WhatsApp numbers, apps, and banking trails, the cyber crime team tracked the real users behind the accounts.

Acting on specific intelligence, team arrested Nizam at Calicut airport while he was attempting to escape. Police seized one passport, one mobile phone, and one SIM card from his possession. Nizam allegedly procured fake or mule bank accounts in India and sold them at high prices to cyber criminals in Dubai receiving commissions in UAE currency.

Chauhan stated that 12 accused were arrested earlier from Kerala and Maharashtra in connection with the same racket. Efforts are underway to trace and arrest other absconding members of the interstate and international cyber fraud gang.

Modus operandi

Police officials said the gang cheated victims by luring them with fake messages promising high returns through stock market investments. Fraudsters contacted targets via WhatsApp, impersonating representatives of reputed companies and promoting look-alike mobile applications.

To build trust, they initially returned small investments with profits. Once victims invested larger sums, their app accounts were blocked and the money was siphoned off.