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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 IFSO unit arrested five individuals, including a bank relationship manager, for allegedly siphoning ₹12.84 crore from the corporate bank account of non-banking finance company Hero FinCorp Ltd. According to reports, the company discovered 317 unauthorised debit transactions totalling ₹12,84,09,997 routed into 34 primary-layer bank accounts without management consent.

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

Charges or sections cited

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

Status

Five arrested, investigation ongoing with further arrests expected

The full story

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

Investigators stated that the operation involved a trans-State syndicate with links to Chinese groups operating on Telegram. Part of the allegedly cheated money was converted into USDT and transferred to overseas fraudsters. During the investigation, authorities placed a lien on ₹1.7 crore within the fraudulent accounts and recovered mobile phones, cheque books, and rubber stamps.

Police conducted raids across multiple locations after analysing bank and mobile phone records. The investigation revealed that various accused individuals operated designated corporate accounts or shell entities on commission, with assistance from a bank employee who allegedly helped facilitate account openings.

Not yet reported: The articles do not mention the specific method by which the initial unauthorized access to the corporate bank account was achieved.

Where the case stands

The latest position in the reports we read.

Five suspects have been arrested, and authorities have placed a hold on ₹1.7 crore of the defrauded funds. Investigators have identified other suspected members in India and Dubai, and further arrests are anticipated.

Who was affected

Described in general terms; we do not name victims.

A major non-banking finance company, Hero FinCorp Ltd., whose corporate bank account was targeted through hundreds of unauthorized 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 gained access to unauthorised debit capabilities on a major corporate bank account, executing 317 transactions.
The funds were systematically routed into 34 primary-layer bank accounts opened under various business names.
Accounts were operated using specialized methods, including the installation of remote-access APK files on mobile phones.
A portion of the stolen funds was converted into USDT cryptocurrency by an operative and transferred to foreign fraudsters.
Syndicate members received commissions for providing bank accounts and managing the laundering process.

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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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