India, Nov. 7 -- The police have arrested 12 members of a nationwide cyber fraud and illegal online gaming racket which used hundreds of mule bank accounts and defrauded people of nearly Rs.84 crore. The gang members, educated young men, ran the racket in a "corporate-style set up" misusing their digital know-how to defraud citizens, said a police officer.

According to the Navi Mumbai police crime branch, the racket came to light when the crime branch arrested Imran Shaikh, 22, from the central business district of Belapur on October 14. The police had been acting on a tip off that Shaikh was running an illegal online gaming and betting operation using multiple bank accounts and digital platforms.

Shaikh's interrogation led the police t...