Bhubaneswar: The Cyber Crime and Economic Offences Police have arrested the agent of a Bhadrak-based mule account network linked to a Rs 91.9 lakh investment fraud, involving a Bhubaneswar resident.
According to an official police release issued on Sunday, the accused, identified as Pritam Nayak alias Babulu, hailing from Bant area in Bhadrak district, was apprehended after evading arrest for a prolonged period. Nayak served as the primary local operational link for a larger, overseas Chinese cyberfraud syndicate.
Investigation revealed that the complainant was lured through a social media platform on July 1 and later a WhatsApp group, ‘Financial Insights Exchange’, with promises of doubling his investment. He transferred Rs 91.9 lakh through multiple transactions into accounts provided by the network. Shortly after the transfers were completed, the victim was blocked from contacting the operators.
Verification of the financial trail led to a widespread mule account network. The syndicate systematically opened bank accounts in the names of unsuspecting individuals by offering them small cash commissions. These accounts were subsequently transferred to cybercriminals operating from outside the state and abroad to launder illicit proceeds, the release said.
It further noted that Nayak, who had completed education up to Class X, was in direct contact with Chinese operators via Telegram. He managed the supply of local mule bank accounts to funnel funds generated from online gaming and cyber fraud operations. In exchange, Nayak received his commission in cryptocurrency, which he then converted into cash through local informal markets to obscure the trail.
With Nayak’s arrest, the total number of individuals apprehended in connection with this case has risen to five. Earlier this month, four youths were arrested for their involvement in operating a mule account supply network from the district that channelled proceeds of investment scams worth crores of rupees and maintained links with Chinese operators.
Cyber crime officials cautioned public against joining unverified online investment groups or engaging with schemes promising unrealistic financial returns on social media platforms.
