₹25 cr online trading scam: Kochi cyber police trace key account to Hyderabad
This comes a day after the first arrest in the case, a woman from Kollam named Sujitha G, was made in Kochi.
This comes a day after the first arrest in the case, a woman from Kollam named Sujitha G, was made in Kochi.
This comes a day after the first arrest in the case, a woman from Kollam named Sujitha G, was made in Kochi.
Kochi: In a major development in what is being described as one of the biggest cyber scams in Kerala, the Kochi cyber police have traced another bank account linked to the ₹25 crore online fraud to a leading private bank branch in Hyderabad. This comes a day after the first arrest in the case, a woman from Kollam named Sujitha G, was made in Kochi.
According to the complainant, a pharmaceutical businessman in Kochi, around ₹16 cr of the defrauded ₹25 cr amount in the online trading scam was transferred in instalments to this account in Hyderabad. However, in a significant turn of events, the Kochi police found that the account holders had already been arrested in Hyderabad in connection with another cyber scam involving a similar modus operandi.
Police sources confirmed that the account holders are part of the larger scam network, and they need to be questioned.
“A team from the Kochi cyber police will soon travel to Hyderabad to formally record the arrest of these individuals in the Kochi case as well,” police sources said.
Sujitha, a ‘mule’ for scammers
Meanwhile, the Kochi police plan to seek the custody of Sujitha G, who is currently under judicial custody following her arrest on Wednesday. Investigators believe that Sujitha was a ‘mule’ in the scam and "sold" her bank account to the fraudsters, who used it as a ‘mule account.’
A mule account is an account used by a money mule to facilitate the illegal transfer of money or other assets acquired through fraud or other criminal activities. Money mules, often unaware they are participating in criminal activity, are recruited to receive and then move these funds for criminals, sometimes earning a small commission for their role.
Police are now working to identify the individuals behind the scam, and Sujitha will be questioned further based on the details they uncover.
“Sujitha's arrest marks a crucial first step in dismantling the racket responsible for this massive financial fraud. She claims she works as a maid, but we are verifying that. We are checking her source of income. Though she claims she just sold her account to the scammers, we doubt her involvement in the fraud,” said a police officer associated with the probe.