The Cyber Centre of Excellence under the Criminal Investigation Department (CID) Crime has arrested five alleged members of a transnational cyber fraud network during Operation Mule Hunt 2.0, uncovering an organised racket involving matrimonial honeytraps, fake forex investment platforms and a network of mule bank accounts.
According to investigators, forensic analysis has linked the syndicate to 31 cyber fraud complaints registered on the National Cyber Crime Reporting Portal (NCCRP), involving alleged financial losses exceeding ₹15.31 crore.
Honeytrap Through Matrimonial Platform
Investigators alleged that the network used fake female identities on the matrimonial platform Dilsafar to establish contact with potential victims.
Using fictitious profiles, the accused allegedly spent weeks building trust before shifting conversations to encrypted messaging applications such as Telegram.
Victims were then introduced to what was projected as an exclusive online forex trading platform branded as "RoboForex."
Police alleged that the platform displayed fabricated profits to convince users that their investments were generating substantial returns.
Businessman Allegedly Lost ₹2.30 Crore
According to investigators, a Surat-based businessman initially invested ₹50,000 after being persuaded by the accused.
Authorities claim the fraudsters allowed a small withdrawal to create confidence in the platform before convincing the victim to invest larger amounts.
Police alleged that the victim ultimately transferred approximately ₹1.47 crore through multiple bank accounts operated by the syndicate.
When the victim later attempted to withdraw the displayed profits, the platform allegedly demanded an additional ₹83 lakh as an "unlock" or margin clearance fee.
Investigators estimate the complainant's overall financial loss at approximately ₹2.30 crore.
Corporate Mule Accounts Used to Layer Funds
The investigation led cybercrime officials to a corporate current account opened in the name of R.P. Chemicals.
Police arrested Raj Atulbhai Padsala, who allegedly created the company solely to obtain commercial banking facilities before handing control of the account to intermediaries in exchange for commissions.
Investigators further alleged that a group of intermediaries based in Rajkot managed:
- Corporate bank accounts
- SIM cards
- Banking credentials
- Digital transaction monitoring
Authorities claim that internet banking access credentials were eventually forwarded through handlers in Delhi to another alleged operator believed to be coordinating the laundering of funds from Nepal.
The investigation into the alleged international money trail remains ongoing.
Digital Evidence Seized
During the operation, investigators recovered:
- Seven mobile phones
- Fake identity documents
- Corporate registration records
- Banking-related documents
- Digital devices used during the alleged operation
Authorities are conducting forensic analysis of the seized electronic evidence to identify additional members of the network and trace the complete financial trail.
Investigation Continues
According to Superintendent of Police Rajdeepsinh Jhala, the operation has helped investigators identify what they believe is a direct link between domestic mule account networks and suspected cross-border laundering channels.
Police stated that investigations are continuing to identify additional beneficiaries, financial facilitators and overseas associates allegedly connected with the cyber fraud network.
Advisory for Investors
Cybercrime investigators have cautioned the public against trusting investment opportunities introduced through social networking or matrimonial platforms.
Authorities advised citizens to:
- Verify investment platforms through official regulatory authorities such as SEBI.
- Avoid transferring money to personal or unknown bank accounts.
- Be cautious of guaranteed or unusually high returns.
- Report suspected cyber fraud immediately by calling the National Cyber Crime Helpline 1930 or filing a complaint through the National Cyber Crime Reporting Portal.
Shunyatax Global Insight
Cyber fraud syndicates are increasingly combining romance scams with fake investment platforms to manipulate victims emotionally before targeting them financially. Modern investigations rely heavily on banking forensics, digital evidence, device analysis and cross-border intelligence sharing to dismantle organised laundering networks operating through mule accounts.
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