Vizag Police Arrest 10 For Fraud Through Mule Bank Accounts

These arrests have been carried out in Goa, Bhimavaram and Nidadavole following a multi-state operation targeting a gang involved in trading, betting and stock market frauds. The accused opened multiple current accounts in banks across Delhi, Bangalore, Goa, Bhopal and Indore to facilitate money laundering.

Investigations got triggered when Zaibee Ahmed from the Yendada area of Visakhapatnam complained of being defrauded of `89 lakh in an investment scam. The probe revealed a complex money laundering scheme, where a victim’s funds got first credited into current accounts of people in East Godavari, West Godavari and Krishna districts. From these the amounts got immediately transferred to accounts in different states.

Fraudsters subsequently withdrew the money and converted it into crypto-currency, effectively breaking the NCRP/1930-layer system designed to track and freeze fraudulent transactions.

The three main accused in the fraud have been identified as Thotakura Raj Kumar, identified as the main mastermind from Bhimavaram. He negotiated between account holders and the main gang members. Kavali Kodanda Ramanjaneyulu (alias Bobby) from Palakollu mandal, a former shrimp pond businessman, had opened about 10 current accounts and travelled to Bhopal, Bangalore, Goa and Indore to facilitate transactions by providing OTPs to cybercriminals in hotel rooms. Similarly, Mohammed Ghouse Sharif from Narasapuram mandal opened current accounts under business names like "Nandu Blue Park C Foods" and "Sri Rama C Foods" and travelled to Indore, Delhi and Bangalore.

Other accused include Mailabathula Pawan, Penumatsa Prasada Raju, Karuturi Veera Venkata Naresh, Kolanati Shiva Varma, Guntur Pridviraj, Nadimpally Dilip, and Sagi Sai Surya Satya Kumar Raju.

Police officials disclosed that the main accused are working with international cybercriminals. Special teams have been formed to track and arrest them.