In a major breakthrough in an online fraud case, police have revealed that Bibin Savijbhai, hailing from Gujarat, is part of a sophisticated multi-level global racket. Bibin was arrested on September 26 for allegedly siphoning off Rs10,30,000 from a Manncherry native working in Chennai.
A representative from the Cyber Crime Police Station in Alappuzha described the operation: “At the first level, the racket operates as a call center, targeting vulnerable individuals with promises of quick money. The stolen funds are then transferred to another person’s account at the second level, with commissions paid for their role.”
Bibin reportedly transferred over Rs2 million to a contact in Mumbai, sourced from multiple victims across India. Unfortunately, the Mumbai contact fled before authorities could apprehend him.
“Bibin is implicated in 15 similar cases across various police stations in India, with a total value of over Rs2 crore. He facilitated the transfer of this money to his contact in Mumbai for a commission. We traced the IP address, but the contact’s identity was fake, and they fled before we could make an arrest,” the official said.
Police are continuing to investigate the entire scope of the racket. “We’ve identified eight or nine levels so far, but there could be as many as 12. Individuals at higher levels may not even realize they’re part of a fraud, as they work for seemingly legitimate companies,” added the officer.
The operation is believed to be more than just a scheme for personal gain, as the flow of money indicates a complex structure. “The funds are funneled through multiple accounts, eventually leaving the country and being converted into cryptocurrencies,” the official explained.
Of the Rs10,30,000 stolen from the Manncherry victim, over Rs7 lakh was recovered from Bibin’s account. Bibin has been remanded in custody, and further arrests are expected in connection with this case.