Four young men were arrested by Jodhpur police on Sunday for allegedly siphoning off Rs 50 crore by converting it into cryptocurrency and transferring it to China in collaboration with Chinese cyber scammers. The group, which opened nearly 35 fake bank accounts, was led by a Class 10 student.
The fraud came to light after the police arrested the mastermind and his four accomplices and interrogated them. The accused, identified as Akshay Kumar, Rakesh, Ramdin, and Bhom Singh, were initially arrested by Kota police on January 16 before being transferred to Jodhpur for further questioning.
Cyber police station in-charge Vinod Kumar explained that the gang had been operating from Kota and used their fake bank accounts to launder the money. The suspects would convert the siphoned-off Indian currency, amounting to Rs 50 crore, into cryptocurrency and then send the funds to their Chinese counterparts. The accused deducted a commission from the amount before sending the remaining funds abroad.
The police investigation revealed that over a span of seven months, the accused conducted multiple transactions, depositing money into around 30 to 35 different bank accounts. The police seized mobile phones from the accused, discovering more than 11,000 screenshots related to various transactions, further confirming the extent of the scam.
