The Kolhapur cyber police have apprehended two individuals out of the ten accused allegedly involved in running 20 mule bank accounts that were used to divert funds from victims of an investment fraud scheme.
Arrested Accused Identified
The arrested suspects have been identified as Sagar Dhananjay Bhandari, a resident of Vita in Sangli district, and Aniket Dhondiram Kumbhar from Shinganapur in Karvir taluka of Kolhapur district.
Modus Operandi Revealed
Inspector Sanjay Harugade of the Kolhapur Cyber police station explained the method employed by the fraudsters. “The accused lured economically weaker individuals into opening bank accounts by paying them between Rs 2,000 and Rs 10,000,” he said. After obtaining the accounts, the fraudsters collected complete banking kits, including account details, passwords, and PIN numbers, enabling them to operate the accounts remotely without the account holders' knowledge.
Financial Trail
The money obtained through fraudulent investment schemes was deposited into these mule accounts and later diverted into digital currencies or other channels for personal gains. “Our investigation into 20 such mule accounts revealed transactions amounting to Rs 32 lakh,” Harugade added.
Legal Proceedings and Public Warning
A case has been registered at the Shahupuri police station. The police have urged citizens not to allow their bank accounts to be used for illegal activities, warning that account holders may also face legal scrutiny if found involved. The investigation is ongoing to trace the remaining eight accused and dismantle the entire network.
