The east region cyber police in Mumbai have arrested a tour operator from Virar whose bank account was allegedly used in multiple cyber fraud cases across the country. The arrest is part of an ongoing investigation into an investment fraud racket.
Arrest and Allegations
Police identified the accused as Nilesh Upadhaya (38), proprietor of Geeta Express Cargo. He was arrested last week in Virar after investigators discovered he received a commission for allowing his bank account to be used to route fraudulent money. Investigators suspect that several crores of rupees siphoned from victims in different states were routed through his account before being transferred to other beneficiaries, with part of the money trail believed to extend overseas.
Modus Operandi
According to police, Upadhaya was part of a gang that lured a 65-year-old retired Bhandup resident into investing in online trading and duped him of Rs 78 lakh. The senior citizen was allegedly cheated through a fake online investment scheme. The victim was added to a WhatsApp group called "VIP Investors Network" and persuaded by fraudsters posing as investment advisors to invest money through a mobile application after being shown fictitious profits.
During the probe, cyber investigators traced Rs 50,000 from the defrauded amount to a bank account operated by Geeta Express Cargo, allegedly controlled by Upadhyay. Further scrutiny through the National Cyber Crime Reporting Portal (NCRP) revealed that the same account was linked to dozens of cybercrime complaints registered in Maharashtra, Telangana, Gujarat, Karnataka, and West Bengal.
Role as Mule Account
According to investigators, Upadhyay allegedly handed over the account’s cheque book, ATM card, SIM card, and banking credentials to associates in Lucknow, Uttar Pradesh, in return for a 5 to 10% commission on funds routed through the account. Police suspect the account functioned as a mule account used to layer and transfer proceeds of cyber frauds.
This case highlights the growing use of mule accounts in cybercrime networks, where individuals are recruited to provide their bank accounts for money laundering in exchange for commissions. The police are continuing their investigation to trace other beneficiaries and uncover the full extent of the fraud.
