HYDERABAD: Cyberabad cybercrime police have busted an online trading fraud network and arrested seven persons for allegedly facilitating cyber fraud operations by opening, operating and supplying mule bank accounts used to route fraudulent proceeds.
Cyber Crimes DCP T Sai Manohar said the accused were involved in arranging bank accounts, supplying account holders, collecting fraud proceeds, transporting cash and facilitating money laundering activities for organised cyber fraud syndicates.
The arrested persons were identified as Raparthi Goutham, Senapathi Pentaiah, Bodala Sai Kumar, Murapakala Kumar, Vijjypu Satyanarayana, Mantri Sai Kumar and Utla Satyanarayana.
Investigators found that Bodala Sai Kumar collected fraud proceeds in cash and handed them over to Raparthi Goutham. Acting on the instructions of the main accused, Senapathi Ganesh, Goutham allegedly delivered the cash to Senapathi Pentaiah, who received the money on behalf of the network. Police said Mantri Sai Kumar assisted in transporting and delivering cash and played a key role in facilitating the movement of fraud proceeds among members of the syndicate.
During separate raids conducted at Raidurgam and Manikonda, police apprehended Utla Satyanarayana, who was allegedly involved in operating and providing bank accounts used for routing cyber fraud proceeds.
According to investigators, the accused actively arranged mule bank accounts, supplied account holders and helped channel illicit funds through the banking system for organised cybercrime groups. Police said efforts are underway to identify other beneficiaries, account suppliers, cash handlers and the masterminds behind the network.
