Four arrested in Indore for allegedly selling bank accounts for cyber fraud

Four people were arrested in Indore for allegedly buying and selling bank accounts used in cyber fraud. Police said the accounts facilitated fraudulent cryptocurrency transactions, with one linked to complaints in Andhra Pradesh and Uttar Pradesh. Another suspect remains absconding

Indore: 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.

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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 Bharatiya Nyaya Sanhita and Information Technology Act, and further probe is underway, Rathore said.