Indore News: Man Held For Providing Mule Accounts

Indore (Madhya Pradesh): The city crime branch on Friday arrested a man for supplying fake bank accounts to an investment advisory company that used them to carry out fraudulent financial transactions.

DCP (Crime) Rajesh Tripathi said the arrest was made under the directives of Commissioner of Police Santosh Kumar Singh, who has instructed officers to take swift action against financial fraud and cheating cases.

As part of a special drive by the Economic Offences Wing (EOW) to curb advisory scams and financial crimes, the team gathered evidence and arrested the accused.

The accused has been identified as Vinayak Mehta, who allegedly arranged fake bank accounts for advisory companies in exchange for a 3 percent commission. According to officials, these accounts were later used by a company named Honest Tech Advisory to manage and route money collected through fraudulent means.

Police are now investigating Mehta’s associates, linked bank accounts, and the digital network involved in the scam. Further action will be taken based on the findings.

Cyber Advisory

Indore Police has issued an advisory urging citizens to stay cautious. Officials have appealed to the public not to invest based on calls or messages from unknown persons or agencies, and to avoid sharing banking or personal details with any individual claiming to represent a financial or government institution without proper verification. The police cautioned that fraudulent callers often lure victims with promises of high returns.