Bengaluru Cyber Police Arrest Three Men, Bust ₹93.58 Lakh Online Trading Scam

The Cyber Crime Police in Bengaluru have arrested three men in connection with a sophisticated online trading and investment scam that duped a city resident of ₹93.58 lakh. The investigation, which originated from a complaint filed by a Peenya resident on May 28, led investigators to a cybercrime syndicate operating through fake investment applications, cryptocurrency wallets, and an intricate network of over 500 mule bank accounts. According to police officials, the prime suspect, identified as Amit Mishra from Jharkhand, was tracked for nearly two months before being arrested at a hotel in Bengaluru on September 8. Technical analysis of Mishra’s mobile communications subsequently led to the arrest of two local associates, Tausif Ahmed and Parashuram Sadanand Kannanavar, on September 9. Police recovered six mobile phones used to manage illicit communications and bank accounts. Investigators revealed that approximately ₹13 lakh of the defrauded money passed through a public sector bank account, while over ₹38 lakh moved through a specific private bank current account. The fraud syndicate utilized a Dubai-based messaging application to coordinate operations and funneled illicit proceeds into cryptocurrency wallets. Digital footprints and IP address analysis showed active linkages extending to Kolkata, Hong Kong, and California. Efforts remain ongoing to trace the absconding principal key figure, known as Anoop alias Zulfi.