Gang involved in 125 cases using 82 'Mule' Bank accounts busted in Hyderabad

HYDERABAD: The Hyderabad City Police, in collaboration with the Telangana State Cyber Security Bureau and the East Zone Task Force, have apprehended five individuals involved in opening 'mule' bank accounts used by cyber fraudsters. These accounts facilitated large-scale financial fraud targeting unsuspecting victims.

The accused persons were identified as Arif Saifi (40) of Uttarakhand, Mohd Abdul Naveed (30), Sohail Khan (20), Mohd Dade Khan (21), and Sohail Khan (25), all residents of Hyderabad.

Upon investigation, it was discovered that the mastermind behind this operation was Arif Saifi, a civil foreman in Saudi Arabia. In February 2023, he met two individuals in Sharjah, Zaid from Muradabad, UP, and Sandeep Singh from Punjab. They were involved in the cryptocurrency business and needed bank accounts for their transactions. Tempted by their offer of Rs. 15,000 per account, Arif Saifi decided to collaborate with Fathima Begum from Hyderabad.

Through accomplices, including Fathima's son-in-law, Mohd Abdul Naveed, her son, Sohail Khan, and others, they procured SIM cards. They opened bank accounts in Hyderabad and sent the credentials to Dubai for fraudulent activities.

The police uncovered a staggering 82 bank accounts tied to this operation, with fraudulent transactions totaling a whopping Rs. 5 crore. This led to a nationwide surge in cybercrime complaints, including nine FIRs in Telangana alone. The affected areas spanned from Hyderabad and Cyberabad Commissionerates to Rachakonda, Karimnagar, and Zaheerabad.

Police also seized 65 bank account kits, 14 debit cards, 31 SIM card pouches, and six mobile phones from the possession of the arrested accused.

The arrests were made under the supervision of Additional DCP Task Force Ande Srinivasa Rao and his team, which included Inspector A. Nagarjuna and sub-inspectors M. Ananth Chary, S. Karunakar Reddy, and P. Nagaraju.

DCP Commissioner's Task Force S. Rashmi Perumal urged the public to be cautious of fraudulent online investment schemes promising high returns. Additionally, she warned against opening bank accounts for others or sharing personal credentials.