Mule account network busted in Cyberabad; three arrested in ₹78.66 lakh fraud case
HYDERABAD: The Cyber Crime Police of Cyberabad Commissionerate have busted a Rajasthan-based mule account network and arrested three persons for allegedly facilitating an online investment fraud in which a victim lost ₹78.66 lakh, police said on Friday.
Three held from Rajasthan in Hyderabad operation
The accused were identified as Vikash Khokhar (30) of Gotan in Nagaur district, Phiroj Mohammad (26) of Nagaur, and Nitish Kumar (19) of Jagatpura in Jaipur. They were arrested in Hyderabad in connection with Crime No. 355/2026.
Network supplied mule accounts to fraud syndicates
Police said the trio was part of an organised interstate network that supplied mule bank accounts to cybercriminals on a commission basis. They allegedly procured bank accounts, ATM cards, SIM cards and KYC documents from individuals and handed them over to fraud syndicates.
These mule accounts were used to receive and transfer money cheated from victims through fake online investment and trading platforms that promised high returns. Officials said the accused played a key role in routing the defrauded amount.
Arrest followed financial analysis and surveillance
Investigators traced the accused through technical surveillance and analysis of financial transactions. A coordinated operation led to their arrest in Hyderabad.
Police said further investigation is underway to identify other members of the racket, track the complete money trail and freeze additional bank accounts linked to the fraud.
Advisory issued against sharing bank credentials
The Cyber Crime Police warned citizens against sharing or renting out bank accounts, ATM cards, SIM cards or personal documents for monetary gain, stating that such acts attract criminal liability.
They advised the public to remain cautious against fake investment schemes, suspicious links, fraudulent job offers and impersonation calls. In case of cyber fraud, citizens can dial 1930 or report incidents through the National Cyber Crime Reporting Portal.
Officials added that cybercriminals continue to evolve new methods and urged people to verify unknown communications before acting.
