The Central Bureau of Investigation (CBI) has arrested nine individuals involved in a massive scam using around 8.5 lakh mule bank accounts across more than 700 bank branches in India. The arrests came during Operation Chakra V, which led to raids at 42 locations in Delhi, Uttar Pradesh, and Rajasthan.
The accused are:
Lovkesh Shakya (Delhi)
Savan Kumar (Delhi)
Vishal (Delhi)
Farman Beg (Uttarakhand)
Purushottam (Uttarakhand)
Shubham Kamboj (Uttar Pradesh)
Umardeen (Uttar Pradesh)
Yousuf (Rajasthan)
Ashok (Rajasthan)
The CBI investigation uncovered that these mule accounts were opened without proper KYC checks, customer due diligence, or risk assessment, violating RBI guidelines and internal bank policies. Some bank officials and branch managers neglected suspicious transaction alerts and failed to verify customers properly.
The accused have been booked for criminal conspiracy, cheating, forgery, use of forged documents, and criminal misconduct under the Prevention of Corruption Act.
During the raids, authorities seized incriminating documents, digital devices, mobile phones, bank account opening forms, transaction records, and KYC documents. The investigation also identified several middlemen who facilitated the opening and operation of these mule accounts.
The mule accounts were used in various cybercrimes such as impersonation frauds, fake advertisements, investment traps, and UPI-based scams. The network flourished with help from some complicit bank officials, agents, and intermediaries.
The CBI is continuing its probe to dismantle the entire mule account racket.
