Two engineering graduates were arrested for their alleged role in an online fraud racket, where they provided cybercriminals with access to multiple bank accounts in exchange for commission and facilitated the conversion of stolen funds into cryptocurrency.
Acting on a tip-off, police raided Hotel Star-Key on June 5 and arrested Shekhar Suman (30), a resident of Sitamarhi, Bihar, who was caught red-handed operating fraudulent schemes online.
From his possession, police recovered:
18 ATM cards
7 SIM cards
2 mobile phones
1 laptop, 1 tablet
2 bank passbooks, 2 chequebooks
An FIR was registered at the Cyber Crime West Police Station. A deeper probe led to the arrest of his accomplice Rajat (29), from Jind, Haryana, the following day.
The operation was supervised by ACP Priyanshu Diwan, with the investigation and arrests carried out by Inspector Sandeep Kumar and his cybercrime team.
How the Scam Worked
Police revealed that Shekhar and Rajat were college friends who had previously operated a café in Noida. There, they came in contact with USDT (Tether) traders via Telegram groups.
Realizing that cyber fraudsters preferred converting stolen money into cryptocurrency, especially USDT, the duo saw a quick-profit opportunity. Rajat connected Shekhar to crypto dealers and scammers who were willing to pay a premium to move illicit funds.
Their role:
Sell bank account access for receiving stolen funds
Buy USDT at low rates
Resell USDT to cybercriminals at higher rates
Withdraw funds via ATMs and pass the cash after keeping a cut
Both accused were produced in court on June 6 and are under investigation for links to wider cybercrime networks.
