Overview
- Nitesh Rai, a manager at Axis Bank in Mumbai, was arrested on November 11 for allegedly facilitating the opening of mule accounts.
- He was produced before a Mumbai court and remanded to CBI custody after an FIR was registered under the Prevention of Corruption Act and the BNS.
- Investigators allege he accepted illegal gratification and abused his position by processing fraudulent account-opening forms that enabled laundering of cybercrime proceeds.
- The CBI says the mule accounts were used in multiple cases, including so-called digital arrest frauds that coerce victims into transferring money.
- Two cybercriminals alleged to have paid bribes were named in the FIR and had been arrested earlier, as the agency warns that banker involvement across private and cooperative banks will face action.