Cyber Fraud Ring Busted: How Six Arrests Unveiled a Rs 1.93 Crore Scam
Six individuals from a criminal syndicate were arrested for defrauding a company out of Rs 1.93 crore using the director's identity in WhatsApp messages. Funds were transferred and converted to cryptocurrency in China. The ongoing probe reveals links to other cyber fraud cases; arrests were made following the discovery of fake bank accounts.

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- India
In a significant breakthrough, six members of a criminal gang have been apprehended for allegedly deceiving a company and embezzling Rs 1.93 crore, by impersonating the firm's director in WhatsApp communications. The police reported this on Thursday.
The funds, after being transferred, were extracted by one of the syndicate's operatives stationed in China who then converted them into cryptocurrency. The ongoing investigation has indicated that the implicated bank accounts have been associated with 11 other instances of cyber fraud.
The arrest operation took place following the discovery that the bank accounts belonged to individuals in Mumbai. Fake documents were used to open these accounts, leading authorities to apprehend suspects across Pune, Nashik, Andheri, Goa, and Lucknow, who were found with electronic devices and counterfeit banking materials.
(With inputs from agencies.)
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