Cyber frauds used 36,656 mule bank accounts to transfer ₹10.98 Cr looted from city bizman

MUMBAI: The South Cyber Police, in their investigation of a recent ₹10.98-crore share-trading cyber fraud perpetrated on a 68-year-old city businessman, have found that the accused used around 36,656 mule bank accounts to transfer the defrauded funds. A part of the money was also used to fund usurious “loan apps” and illegal online games, both run from China.

According to the police, who registered an FIR on January 20, the businessman got a call from an unknown person who identified himself as Mohan Sharma, and informed him that he could earn high profits by investing in the stock market through their firm.