MUMBAI, April 18 -- The Central Bureau of Investigation (CBI) is probing the role of a former branch manager of a private bank in connection with a cyber fraud case wherein proceeds of crime worth Rs.3.74 crore were received in a mule bank account on July 2 last year. The funds were allegedly deposited into the mule account by 10 victims of cyber fraud via 11 transactions and were later transferred to other accounts, CBI officials told HT. On March 26, the CBI's Mumbai unit obtained prior approval required under the Prevention of Corruption Act to probe the role of the bank official under scanner, S Sharma, with respect to the mule account under scanner, CBI officials said. According to the CBI, alleged fraudsters induced victims to transfer funds into multiple mule accounts via sophisticated, deceptive methods such as impersonation, digital arrest, customs fraud, online financial fraud, identity theft, phishing and cyber bullying. The mule account in which Rs.3.74 crore got deposited on July 2 last year was of a cargo-and courier firm. On July 4, 2025, the CBI's Mumbai unit registered a FIR against the firm, its director S Palande, unknown cyber fraudsters, intermediary agents and unknown public and private bank officials. The accused were booked for criminal conspiracy, cheating by use of computer resources, forgery for the purpose of cheating, and abuse of official position by public servants under relevant sections of the Information Technology Act, the Prevention of Corruption Act and the Bharatiya Nyaya Sanhita. Palande was subsequently arrested by the CBI and while six accused persons, including the consulting firm owner, were charge-sheeted last year, the probe was still underway with regard to roles of public servant/s and the fund trail of the proceeds of crime, including foreign remittances, CBI officials said. The CBI probe so far has revealed that funds worth Rs.3.8 lakh were transferred from the mule account to a Delhi-based individual's account, following which it was transferred to the account of a firm based in the United Arab Emirates, W Consulting. In his statement to the CBI, an India-based director of the firm denied any wrongdoing or links with the case....