Overview
- Delhi Police arrested five suspects, including a bank relationship manager, in a network allegedly directed by a Dubai-based handler known as Tom.
- Police say the cell duped victims of nearly ₹500 crore through fake stock investment schemes, with operatives paid ₹1.5 lakh per fraudulent bank account.
- The syndicate used shell firms and multiple current accounts to launder proceeds linked to 52 complaints across 12 states, converting funds into USDT to move money abroad.
- Kerala’s Operation Cy-Hunt registered 439 FIRs and made 284 arrests in a statewide sweep that exposed students’ bank accounts being used as mule channels; investigators seized 88 devices and plan to expand the probe.
- In a separate Uttar Pradesh case, two men were held in arrests tied to 35 complaints totaling about ₹60 lakh, with laptops, phones, and luxury items recovered.