City crime police arrested Shahdev Khokhar, deputy manager at Axis Bank’s currency chest, late Monday in connection with a Rs7 crore scam involving hacking of an e-commerce website and casino betting applications.
According to crime branch sources, Khokhar facilitated fraudulent transactions by providing Unique Transaction Reference (UTR) codes to accused persons Vijay Vaghela, Nitesh Madte, and Adil Parmar. The scam revolved around unauthorized financial transactions executed through these hacking operations.
Further investigations have revealed that two other bank managers are also suspected of involvement in the scam, according to a crime branch official. The authorities are continuing their probe into the full extent of the network and its operations.
