E-Paper
Chandigarh: Four held in ₹54L cyber fraud targeting city bizman
During interrogation, the accused revealed the identities of other key associates based in Jharkhand and Bihar who were involved in operating mule accounts and withdrawing cash
The UT cybercrime police have arrested four accused for allegedly duping a city-based businessman of over ₹54 lakh. The accused are said to be involved in a multi-state cyber-fraud syndicate.
The case was registered on April 17, on the complaint of Manish Aggarwal, a Chandigarh-based steel businessman, who had applied for a Toyota dealership. Soon after, he received calls and emails from fraudsters impersonating senior officials of Toyota Kirloskar Motors. Using a fake mobile number and forged email ID, the accused convinced him that his dealership application had been approved.
To make the offer appear genuine, the accused sent him a forged Letter of Intent (LOI) on what appeared to be the company’s official letterhead. Believing the communication to be authentic, the complainant transferred ₹54,16,790 into two bank accounts provided by the fraudsters.
Toyota Kirloskar Motors later confirmed that neither the contact details nor the LOI belonged to the company, following which the matter was reported to the cybercrime police station.
Following technical analysis of bank account details, money flow, and digital footprints, the cybercrime police uncovered a network of multiple mule accounts used to receive and launder the cheated funds. Acting swiftly, police teams conducted raids in Ambarnath (West), Ulhasnagar, and Surat, with assistance from local police.
Four accused were arrested during these operations— Mubarak Ali Gafar Ali Shah (24), Thane, Maharashtra; Ankit Surendra Jha (25), Thane, Maharashtra; Santosh Kumar Yadav (29), Surat, Gujarat and Dharmendra Kumar (36), Kalyan (East), Maharashtra.
The police recovered multiple passbooks, ATM cards, SIM cards, and mobile phones used in the execution of the fraud.
Investigation revealed that the racket followed an elaborate and structured method to execute the fraud. The accused first identified potential victims applying for business opportunities. They impersonated corporate officials using forged mobile numbers and emails. A fake LOI was generated to establish credibility and induce payments. The money was funneled through layered mule accounts to obscure its trail.
Each of the arrested accused played a distinct role. Mubarak Ali opened and sold second-layer bank accounts used to receive the fraud money. Ankit Jha acted as a middleman, procuring accounts from Mubarak and others and passing them to the handler. Santosh Yadav sourced bank accounts from unsuspecting individuals and used SIM cards linked to the crime. Dharmendra Kumar purchased these mule accounts and supplied them to the handler responsible for ATM withdrawals.
During interrogation, the accused revealed the identities of other key associates based in Jharkhand and Bihar who were involved in operating mule accounts and withdrawing cash. CCTV footage from concerned banks has also confirmed the presence of additional suspects.
The arrests were made in FIR number 35 dated April 17, registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS), 2023. Officials said that the case is still at an early stage and further custodial interrogation is crucial to analyse digital devices, track the money trail, and identify remaining members of the network.
