Overview
- Authorities arrested 12 people, including a 22-year-old and his mother, and seized hundreds of debit cards, dozens of phones, gold, cash and laptops during raids.
- Investigators say victims were funneled from social media into fake trading and betting apps that showed false profits, then blocked withdrawals and demanded extra payments.
- The duo is accused of opening about 4,200 mule bank accounts, with police reports indicating the wider group handled thousands more using rented accounts and SIM cards.
- Police identify alleged handler Prem Taneja as absconding in Dubai, cite cryptocurrency transfers and satellite-phone communications, and confirm a lookout notice.
- Roughly Rs 240 crore has been frozen across thousands of accounts, and preliminary estimates suggest the syndicate may have siphoned over Rs 1,000 crore as parallel cases in Thane and Pune highlight the wider pattern.