India, Dec. 22 -- A 34-year-old employee of a private bank was arrested for allegedly opening fake bank accounts that were used to siphon money in cyberfraud cases, police said on Sunday. The accused was held from Najafgarh in Delhi by a team from the Manesar Cybercrime police station following a tip-off received by Inspector Manoj Kumar, officials privy to the matter said.

Police identified the accused as Ajit Prasad, a resident of Bihar's Siwan, who was working as a sales manager at a private bank in Connaught Place, Delhi. He was arrested on Thursday.

"Based on a complaint from a resident of Manesar on May 27 last year, an FIR was registered against an unidentified suspect for luring elderly people to buy stocks in exchange for hefty...