Rs 854 Cr Pan-India Cyber Fraud Busted by Bengaluru Police, 6 Arrested

Bengaluru: The Bengaluru Police unearthed a Rs 854 crore cyber fraud scam and arrested six people. These cyber cheats allegedly conned thousands of victims across India on the pretext of an investment scheme.

All the six accused were residents of Bengaluru. Police are trying to apprehend three other accused, alleged to be the masterminds behind the fraud.

Out of the total cheated amount, Rs 5 crore was frozen.

These cyber frauds lured the victims through WhatsApp and Telegram messages. Initially, they asked to invest smaller amounts ranging from Rs 1,000 to 10,000 on the pretext that one would earn Rs 1,000 to 5,000 per day as a profit. Thousands of victims invested money ranging from Rs 1 lakh to 10 lakh or more.

The investigation has revealed that 5,013 similar cases of cyber investment fraud have been registered across the country. The cheated amount of Rs 854 crore has been transacted by the accused to 84 different bank accounts.

Once the amount was collected, the accused diverted the consolidated money to mule accounts in different parts of the country.