VARANASI, Feb. 6 -- Azamgarh police have busted an inter-state cyber fraud gang and arrested two of its members who siphoned off over one crore rupees, said officials investigating the case.

The network has come under the police net when an Azamgarh man was duped of over Rs.8.99 lakh. The victims were lured into investing through a fake app called 'NEXT TRADE' with the promise of high profits.

The accused were identified as Indrajit Dey, a resident of Nanakheda, Ujjain (Madhya Pradesh) and Ankesh Dhakad, a resident of Indore (Madhya Pradesh). Dhakad, a police officer added, was employed at Kotak Mahindra Bank, Indore. Police recovered three mobile phones with SIM cards, three ATM cards, two checkbooks and one bank ID.

Police said Ashok...