U.P.: ₹120 cr AKTU fraud key accused held

Cyber crime police arrested Ajay Sureshbhai Patel for a ₹120 crore fraud at AKTU, recovering an SUV. This was the eighth arrest in the case.

Cyber crime police have arrested the key accused of ₹120 crore fraud at Dr APJ Abdul Kalam Technical University (AKTU) here. The arrest of the accused identified as Ajay Sureshbhai Patel, 43, was made on August 30, 2024, they said.

It was eighth arrest in connection with the AKTU fraud. (For Rep)

It also led to the recovery of an SUV allegedly purchased using fraudulently obtained money, they added. SHO, cyber police station, Brijesh Yadav said the arrested accused created a fake visiting card and email ID of the Union Bank branch manager and another set of fraudulent email IDs for AKTU.

“By sending emails from these fake addresses to the Union Bank branch, the fraudster arranged a fixed deposit for AKTU’s government funds. The fraudulent documents led to the opening of the FD account and ₹120 crore was transferred into the bank’s pool account. The accused then used RTGS to divert ₹100 crore to other accounts,” said Yadav.

The scam came to light on June 12 this year when Anuj Kumar Saxena, a bank manager at Union Bank, reported the incident.

This was the eighth arrest in connection with the case. So far, those arrested include Anurag Srivastava, Joshi Devendra Prasad Prabhashankar from Gujarat (associated with Shri Shraddha Educational and Charitable Trust), Patel Uday from Ahmedabad (owner of a small restaurant), Rajesh Babu from Unnao (a Bhojpuri film producer), Girish Chandra from Kanpur (owner of a general store), Shailesh Kumar Raghuvanshi from Mahanagar (a pharmacist) and Dastgeer Alam from Amethi (an aide of Shailesh).