4 held in Indore for buying and selling bank accounts used in cyber fraud

Four persons were arrested in Indore in Madhya Pradesh for alleged involvement in buying and selling bank accounts for use in cyber fraud, a police official said on Friday.

Deputy Commissioner of Police Aman Singh Rathore identified the four as Monish Mandloi (29), Piyush Kushwah (22), Rishi Pawar (20) and Sujal Soni (20). Search is on for another associate identified as Rupesh Mangrolia (26), he added.

“During questioning, Mandloi claimed he opened a bank account at the request of Kushwah and handed over the entire bank kit, including the passbook, cheque book and ATM card, to him for Rs 2,000. Kushwah then sold the account to Pawar for Rs 5,000, who further sold it for Rs 10,000,” Rathore said.

The investigation also revealed that money allegedly obtained from people through fraud on the pretext of converting USDT digital cryptocurrency into Indian rupees was routed through various bank accounts, the DCP said.

“One of the bank accounts linked to the gang was found connected to cyber fraud complaints registered in Andhra Pradesh and Uttar Pradesh,” he said.

A case was registered under the Bharatiya Nyaya Sanhita and Information Technology Act, and further probe is underway, Rathore said.