The cyber cell officials in Bhopal have arrested five individuals in connection with a major cyber fraud case in which a local resident was tricked into losing a sum of Rs 9.35 lakh. The fraudsters promised lucrative returns on share market investments but were actually operating a fraudulent scheme.
The authorities revealed that the accused had rented out their bank accounts to execute the scam. This method allowed them to facilitate financial transactions that appeared legitimate on the surface but were, in fact, fraudulent.
The arrested individuals were identified as Riyaz, Rasal Ibrahim, Sachu Vasu, Mohammad Mubashir, and Rakesh Jadhav. According to the police, the suspects were arrested from various locations, including Kozhikode in Kerala and Bhusawal in Maharashtra. Three of the accused have completed their studies up to Class 12, while two hold graduate degrees.
This arrest follows an earlier investigation, which had already led to the capture of three individuals involved in the scam. The case highlights the increasing use of rented bank accounts in cyber fraud operations, making it more challenging for authorities to trace the real perpetrators.Additional Deputy Commissioner of Police (Crime), Shailendra Singh Chouhan, stated that the cyber cell had acted swiftly, identifying and apprehending the suspects across multiple states. Their arrest is expected to help unravel the broader network behind the scam.
The police are continuing their investigation to trace other members of the fraud ring and recover any remaining stolen funds.