Hyderabad, Nov. 25 -- An 8-member cyber fraud gang was arrested by cybercrime police on Tuesday, November 25, for opening mule bank accounts and supplying them to cyber fraudsters.

Three main fraudsters are absconding.

According to the police, they opened 127 mule bank accounts and credited Rs 24,10,16,618 crore into those accounts.

They debited Rs 23,99,31,550 crore and froze Rs 16,31,155 lakhs.

Modus Operandi

In 2023, the main accused, Jagadish, met Kannaiah, who offered Rs 10,000 per bank account.

Jagadish opened multiple accounts using his own ID, his wife's, his mother's, his relatives, and his friends' in various banks.

All passbooks, ATM cards, chequebooks, and credentials were handed over for commission. The documents were ...