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₹9.88 Crore Cyber Fraud: Police Uncover Network of Over…

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activeCyber Crime / Digital ArrestPan India

₹9.88 Crore Cyber Fraud: Police Uncover Network of Over 1,000 Bank Accounts

Police have arrested six individuals, including a Mumbai-based lawyer, in connection with an alleged cyber fraud amounting to ₹9.88 crore. According to investigators, the funds were illegally transferred through RTGS transactions from the bank account of a mill owner located in Wadhoda, rural Nagpur, over a three-day period in July.

State

Multiple States

First reported

October 2026

Amount alleged

₹9.88 Crore

Agency involved

Cyber Police, Rural Superintendent of Police, and the Enforcement Directorate

Arrests

6 individuals

Status

Active investigation with ongoing efforts to trace remaining funds and potential further arrests

The full story

Everything you need to know about this case, in one place.

Investigators suspect that the perpetrators utilized a technique known as SIM swapping to seize control of the victim's mobile number, allowing them to intercept banking alerts and one-time passwords without the victim sharing any credentials or clicking suspicious links. The stolen money was allegedly routed through an extensive network of more than 1,000 bank accounts, shell companies, and fintech payment gateways before being withdrawn as cash or moved via hawala channels.

Following a complaint by the victim on July 8, cyber police tracked suspects across Maharashtra, Uttar Pradesh, Jharkhand, and Delhi. Authorities successfully froze and recovered ₹4.21 crore and are coordinating with the Enforcement Directorate while investigating potential links to gold purchases and broader financial crimes.

Not yet reported: The articles do not specify the final court outcomes or the exact whereabouts of the unrecovered portion of the funds.

Where the case stands

The latest position in the reports we read.

Six individuals have been arrested and authorities have recovered ₹4.21 crore, while police continue to investigate the wider network and trace the remaining funds with assistance from the Enforcement Directorate.

Who was affected

Described in general terms; we do not name victims.

A single mill owner from rural Nagpur whose bank account was targeted through unauthorized RTGS transfers.

Timeline

Key dates as reported, oldest first.

July 4 to July 6Funds totaling ₹9.88 crore were transferred from the victim's bank account through RTGS transactions.

July 8The victim approached cyber police, who registered a case regarding the fraud.

How the scam worked

The method described in the reports.

The accused allegedly used SIM swapping to gain control of the victim's mobile number.
Banking messages and one-time passwords were intercepted without the victim's direct participation or sharing of credentials.
Funds were transferred out of the victim's account via RTGS transactions.
The stolen money was routed through a vast network of over 1,000 bank accounts, shell companies, and fintech payment channels.
Proceeds were allegedly withdrawn in cash or transferred through informal hawala networks and possibly converted into gold.

Targeted by something similar?

Call 1930 (free, 24x7) straight away, then file at cybercrime.gov.in. Money reported in the first hours is far easier to freeze.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

the420.inOriginal report The420.inOpens via Google News Cybercrime lawyer turns conman, leads digital heist of ₹9.88cr, six arrested - The Times of IndiaThe Times of India · 17 Oct 2026

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.