PUDUCHERRY: Puducherry Cyber Crime police have uncovered a major cyber fraud network that has allegedly extorted hundreds of crores of rupees from victims across India through instant loan applications, and arrested a Kerala man, who had Rs 10.65 crore credited to his bank accounts.
The probe began in 2023 when Andrews, a resident of Puducherry, registered a complaint alleging he was forced to pay Rs 2,99,587 after he had obtained Rs 10,000 as loan via an instant loan app. Even after repaying the principal with the interest, unidentified persons had morphed his pictures to threaten him and extort the money, he said. During the probe, the police analysed over 230 documents, scrutinised financial records, and zeroed in on 14 individuals, suspected to be a part of the nationwide network.
A special police team, led by inspectors S Diagaradjane and Keerthy, recently arrested the Kerala man -- Mohammed Shafi T P -- and seized three mobile phones and a car from him. Subsequent investigations revealed that fraudulent transactions worth Rs 300 crore had occurred across 14 bank accounts, which funds were converted into cryptocurrency and transferred abroad, said the police. Shafi has been remanded to judicial custody.
In connection with the fraud, the ED has frozen assets worth Rs 331 crore belonging to prime accused Sithan Mukesh and identified two other suspects -- Sheriff and Nashib.
Senior Superintendent of Police (C&I) Narra Chaitanya advised the public to be wary of loan apps and urged them to verify if they were endorsed by the RBI. The public is advised to report such incidents immediately through the cybercrime helpline 1930.