Two men were arrested for allegedly providing their bank accounts to cyber fraudsters who scammed victims through fake stock market investment promises, police said on Friday.
The arrested individuals have been identified as Vaddoriya Kewin Mukeshbhai (25), a resident of Surat, Gujarat — reportedly working as a Chinese agent — and Abdul Barik (32), from Roorkee, Uttarakhand.
Police recovered six mobile phones containing Chinese apps and digital wallets suspected to be used in various online scams.
The case came to light after a complaint was lodged on April 2 by a victim who was duped of Rs64.75 lakh. The complainant was enticed with promises of high returns via stock trading and IPO investments. He was made to open a fake Demat account on a fraudulent platform named “Business Catalyst Market Ltd” and transferred funds to five different bank accounts under the fraudsters’ direction.
According to DCP (IFSO) Hemant Tiwari, the investigation revealed a layered laundering system, where the victim’s funds were routed through several accounts to mask their origin and final destination.
Further digging into the suspects’ activities showed that Mukeshbhai was part of multiple Chinese cybercrime groups such as ‘Gaming Adda’ and ‘HY-PAY’, and recruited account holders through social media by offering commissions.
Abdul Barik responded to one such online offer and was later contacted by another Chinese handler, to whom he provided his bank account and SIM card, aiding in the operation.
Authorities continue to track the broader network, which appears to involve a chain of coordinated fraud actors operating across India and abroad.
