In a major breakthrough, the Central Bureau of Investigation (CBI) –working in tandem with the Federal Bureau of Investigation (FBI) USA -- has busted a sophisticated virtual asset and bullion-supported cybercrime network and arrested a key accused from Mumbai.
After conducting raids in Mumbai and Kolkata on Thursday and Friday as part of the ongoing Operation CHAKRA-III, the CBI has arrested key accused Vishnu Rathi from the country’s commercial capital.
Having registered a case on September 9 2024 against Rathi and other accused under sections 120-B and 420 of the Indian Penal Code (IPC), as well as Section 66D read with 75 of the Information Technology Act, 2000, the International Operations Division of the CBI launched investigation into the cyber crime network that was targeting victims in foreign countries since 2022.
According to the CBI, Rathi and other accused had -- between June and August 2022 -- conspired to target a U.S. citizen by gaining unauthorized remote access to the victim’s computer and bank account.
Under the pretext of offering tech support services, they falsely informed the US based victim that her bank account had been compromised. Claiming that the funds were at risk, they allegedly manipulated the victim into transferring USD 453,953 to crypto currency wallets controlled by them.
After it registered the case, the CBI conducted extensive searches at multiple locations associated/ linked to the accused, which yielded substantial incriminating evidence.
“Searches conducted by CBI at seven locations across Mumbai and Kolkata on September 12( Thursday) and September 13, 2024 (Friday) have revealed that this transnational cyber-enabled financial crimes network was channeling proceeds of crime through virtual assets and bullion,” the CBI said.
During search at the residential premises of accused Vishnu Rathi, 57 gold bars of 100 gm each, cash amount of Rs.16 lakh, mobile phone, laptop used to manage crypto currencies, details of lockers and other incriminating documents were recovered.
The CBI is continuing its investigations to identify victims of crime and proceeds of crime. It is coordinating with FBI and law enforcement agencies in multiple countries through INTERPOL for follow up on leads.
Operation CHAKRA-III has been initiated by CBI to combat and dismantle organized cyber enabled financial crime networks through a globally coordinated law enforcement response leveraging INTERPOL channels.
