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Cyber fraud syndicate busted in ₹12.84 crore Hero FinCorp…

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activeCyber Crime / Digital ArrestPan India

Cyber fraud syndicate busted in ₹12.84 crore Hero FinCorp case, five arrested

The Delhi Police Special Cell’s Intelligence Fusion and Strategic Operations (IFSO) unit arrested five individuals in connection with a cyber fraud case involving ₹12.84 crore siphoned from the corporate bank account of non-banking finance company Hero FinCorp Ltd. According to reports, unauthorized debit transactions drained funds into multiple primary-layer bank accounts without the management's knowledge.

State

Multiple States

First reported

September 2026

Amount alleged

₹12.84 crore

Agency involved

Delhi Police IFSO unit of the Special Cell

Arrests

Five individuals arrested

Charges or sections cited

Sections 308, 318(4), 319 and 340 of the Bharatiya Nyaya Sanhita

Status

Investigation ongoing with further arrests expected

The full story

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

Investigators stated that the syndicate had links to Chinese groups operating on Telegram. Part of the alleged scam money was converted into USDT and transferred to overseas fraudsters. The police executed raids across multiple locations, seizing mobile phones, cheque books, and rubber stamps, and successfully placed a lien on ₹1.7 crore of the defrauded funds.

The accused persons include a bank relationship manager and others who allegedly operated mule accounts or facilitated the transfer of illicit funds. Authorities reported that the network operated across multiple States, and further arrests are anticipated as the probe continues to trace other suspected members in India and Dubai.

Not yet reported: The articles do not specify the final total amount recovered or the judicial outcome of the case.

Where the case stands

The latest position in the reports we read.

The IFSO unit has arrested five suspects and placed a lien on ₹1.7 crore of the defrauded amount, while further arrests are expected as the investigation continues.

Who was affected

Described in general terms; we do not name victims.

A non-banking finance company, Hero FinCorp Ltd., whose corporate bank account was targeted through hundreds of unauthorized debit transactions.

Timeline

Key dates as reported, oldest first.

August 21An FIR was registered at the Special Cell police station under relevant sections of the Bharatiya Nyaya Sanhita.

How the scam worked

The method described in the reports.

Fraudsters allegedly carried out unauthorized debit transactions from the corporate bank account of a finance company.
The siphoned money was routed through dozens of primary-layer bank accounts opened specifically to receive illicit funds.
Co-conspirators used malicious APK files installed on mobile phones to remotely operate and control bank accounts.
The cheated funds were managed on commission and partially converted into USDT by handlers connected to foreign syndicates.
Converted cryptocurrency was subsequently transferred to fraudsters based abroad to launder the proceeds of the crime.

Targeted by something similar?

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Sources and further reading

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

thehindu.comOriginal report The HinduOpens via Google News Bajwa Developers Chief Denied Bail in Rs 662 Crore Money Laundering Case - Sprouts NewsSprouts News · 29 Sept 2026

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