Cyber-crime syndicate busted as CID identifies 15K mule accounts linked to investment scam, 7 arrested

Ranchi: In a major breakthrough against cyber-crime, the Crime Investigation Department (CID), Ranchi, in coordination with the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs, has unearthed a vast network of cyber fraud involving over 15,000 mule bank accounts. These accounts were allegedly used by cyber criminals to conceal funds obtained through fraudulent investment schemes.

Acting on inputs from the centralised I4C portal, CID launched a special operation targeting Layer-1 mule accounts involved in high-value transactions of ?10 lakh or more. As a result, 40 such accounts have been named in FIR No. 89/25, dated July 29, 2025, registered under multiple sections of the Bharatiya Nyaya Sanhita (BNS) including 319(2), 336(2), 336(3), 338, 340(2), 61(2), 318(2), 318(3), 318(4), as well as sections 66B, 66C, and 66D of the Information Technology Act.

So far, seven people  have been arrested during the investigation. Their mule accounts were primarily used to channel funds in fraudulent investment operations. Interrogation and forensic analysis indicate that the cyber crime syndicate operates across several Indian states, with strong interstate linkages. Bank accounts operated by the accused have been found linked to investment fraud complaints filed in Bihar, Odisha, Uttar Pradesh, West Bengal, Gujarat, Kerala, Madhya Pradesh, Himachal Pradesh, Chhattisgarh, Tamil Nadu, Karnataka, Andhra Pradesh, and Delhi. These complaints were registered through the National Cyber Crime Reporting Portal.

The arrested individuals include Roushan Kumar from Ranchi, whose IDFC Bank account was used to route over ₹10.2 crore, and Rajendra Kumar Saw from Koderma with an ICICI Bank account involved in fraud amounting to ₹67 lakh. Pran Ranjan Sinha from Palamu maintained a Bandhan Bank account with transactions exceeding ₹1.6 crore. Jitendra Kumar alias Papu from Jamtara operated an IndusInd Bank account used to channel ₹5.1 crore across various states including Kerala, MP, Tamil Nadu, Bihar, and Delhi. Nurej Ansari from Lohardaga controlled a J&K Bank account with fraudulent transactions worth ₹5.5 crore, linked to criminal activities in West Bengal, Rajasthan, and other states.

The highest fraudulent amount was linked to Satish Kumar from Ranchi, whose IndusInd Bank account saw transactions worth ₹36.2 crore, and Ganesh Chik Baraik from Simdega, whose Bandhan Bank account handled a staggering ₹73.2 crore, with links across Karnataka, Himachal Pradesh, Kerala, and Maharashtra.

Investigating officers have also recovered eight mobile phones, twelve SIM cards, nine ATM cards, nine bank passbooks and chequebooks, one business registration certificate, and WhatsApp chat records connected to the scam.