Massive Rs 82 Crore Cyber Fraud Bust: Three Arrested
Three individuals have been arrested in connection with a cyber fraud scheme involving Rs 82 crore across India. Authorities allege that the ringleader, Jagadish C, manipulated bank accounts to funnel money using fake identities. Police have seized several assets and are pursuing more suspects.
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Three people have been apprehended for their involvement in cyber fraud cases amassing over Rs 82 crore, linked to 352 complaints nationwide, according to police sources on Friday.
The operation, conducted by the cybercrime police station, resulted in charges under Section 66(D) of the Information Technology Act and relevant sections of the BNS. Jagadish C, 43, allegedly orchestrated the scheme by luring his victim, Wilson, into opening a bank account which he then exploited for fraudulent transactions.
The accused from Shivamogga, along with accomplices Arshad, a Chikkamagaluru fish trader, and Ananth T, a Shivamogga marketing professional, are believed to have rerouted over Rs 14.71 crore through various accounts. The investigation revealed 15 bank accounts linked to the fraud, now frozen. The suspects have been remanded to judicial custody, and further investigations are underway.
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