NAVI MUMBAI, 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 to his associates. Following several raids in Dombivli and Pimpri-Chinchwad, the police seized 52 mobile phones, seven laptops, 99 debit cards, 64 passbooks, and a Tata Safari SUV, collectively valued at Rs.18 lakh. The police also found that the gang was using 886 mule bank accounts made by misusing peoples' identities. Deputy commissioner of police (crime) Sanchin Gunjal said, "Their modus operandi was to lure victims by promising higher returns (on investments)." The crime branch is taking the help of a financial auditor to trace the movement of the money, identify the layered transactions, and ascertain the full scale and nature of the fraud. "This is one of the biggest coordinated cyber frauds exposed in recent months," said Sunil Shinde, senior police inspector of the Navi Mumbai central crime unit....