Authorities on Friday arrested Mohammad Asim Ali Khan from Uttarakhand and Rushikesh Jaywant Kamble from Maharashtra for allegedly providing their bank accounts to an interstate cybercriminal network behind a multi-crore stock market scam.
The duo acted as “professional account providers,” allowing organized cybercrime groups to use their bank accounts for illegal transactions linked to fake IPO funding and high-return stock market investment schemes.
According to police reports, victims were lured through social media groups to download fake trading applications. They were then persuaded to transfer substantial amounts of money, which was siphoned off by the scammers using the accused’s bank accounts.
The investigation is ongoing as authorities work to track the flow of funds and identify other individuals involved in the elaborate cyber fraud.
