Ahmedabad, April 2 (NationPress) The Cyber Crime Branch in Ahmedabad has dismantled a complex network of bank accounts tied to at least 41 instances of cyber fraud throughout India, leading to the arrest of six individuals accused of aiding financial operations for a larger cryptocurrency scam.

The arrests were made following a complaint from a local resident who was defrauded of Rs 57.9 lakh after being enticed into a fraudulent cryptocurrency investment scheme that promised substantial returns.

Authorities reported that a primary suspect, Mayur Savaliya, believed to be operating from Dubai, is still at large.

Investigators revealed that the victim was approached via Facebook, where a relationship was established, ultimately convincing him to invest in cryptocurrency.

He was directed to download a mobile application named “CBOE US” and invest in USDT (Tether).

Over the course of approximately 24 transactions, he transferred Rs 57.9 lakh into various bank accounts provided by the suspects.

When the victim tried to withdraw his funds later, he was asked to pay additional fees under different pretenses, raising his suspicions and prompting him to file a complaint with the Cyber Crime Police Station.

A thorough investigation combining technical surveillance with human intelligence traced the flow of funds into a series of bank accounts allegedly set up by the suspects.

Officials indicated that five primary accounts were utilized, four of which are linked to at least 41 cyber fraud cases across various states.

Initial findings suggest that these accounts managed transactions totaling around Rs 1.5 crore.

These accounts were registered under the name “Crystal Interior Designers Private Limited” across several banks, including Bandhan Bank, ICICI Bank, IndusInd Bank, and Yes Bank.

Authorities stated the accused acted as account holders and facilitators, enabling the routing and withdrawal of funds acquired through fraud.

During the investigation, officials also uncovered a wider network involving intermediaries and handlers operating across different states.

The suspects allegedly coordinated the establishment of bank accounts, managed transactions, and in some cases, transported account holders to Delhi to perform financial operations.

The six individuals arrested include Tahir Belim, 42, from Sarkhej; Adnan Sheikh, 28, a trader near Relief Road; Ajaz Sheikh, 34, a businessman from Dariyapur; Omkar Goswami, 28, linked to Amreli and Surat; Maqsud Mirza, 39; and Sunny Ashok Kumar Maggo, 38, a resident of Uttam Nagar in Delhi.

Police reported that the Delhi-based suspects allegedly shared bank account information with Savaliya, who is suspected of orchestrating the operation from Dubai and sending instructions to the syndicate members in India.

ACP Hardik Makadia stated: “The entire modus operandi involves sending a friend request on Facebook, building a relationship, and subsequently luring the victim into cryptocurrency investments with high-return promises.”

He added that the victim was instructed to download applications and deposit money into accounts presented as cryptocurrency wallets, emphasizing that “instead of legitimate investment, the accused provided various bank account numbers. The victim ultimately deposited a total of Rs 57.9 lakh through around 24 transactions into these accounts.”

Preliminary investigations have indicated that these accounts have been utilized in approximately 41 distinct complaints registered nationwide.

The case has been lodged under sections 316(2), 318(4), and 61(2) of the Bharatiya Nyaya Sanhita, along with sections 66(C) and 66(D) of the Information Technology Act.

Officials confirmed that further investigations are ongoing to trace the money trail, identify additional victims, and apprehend the absconding suspects, as well as to examine the roles of others involved in the operation.