Chandigarh, Sept. 6 -- Haryana Police on Friday said that the cyber unit has busted a large-scale financial crime involving mule accounts and shell companies in Panipat district.

A police spokesperson said that a recent probe revealed that two fake companies were used to carry out suspicious transactions worth crores of rupees. The police action exposed this scam and disrupted the organised network of cybercriminals behind it.

The investigation uncovered that the company "True Artificial Jewellers Private Limited" was entirely bogus. It had opened an account in Bank of India's Panipat branch and within seven months carried out transactions worth Rs.51.82 crore.

"Shockingly, Rs.51.79 crore had already been withdrawn, leaving only Rs.3.1...