Odisha Police have arrested a suspected key supplier of mule bank accounts allegedly linked to a Chinese cyber fraud network following an investigation into an online investment scam involving ₹91.90 lakh. The accused, identified as Pritam Nayak alias Babulu, was arrested in Bhadrak district for allegedly helping fraudsters route money collected from victims through multiple bank accounts.
The arrest brings the number of people apprehended in connection with the case to five.
Who Was Arrested?
The accused, Pritam Nayak, is a resident of the Bant area in Odisha’s Bhadrak district.
Investigators identified him as an important intermediary who allegedly arranged and supplied mule bank accounts to cyber fraud operators based in China.
Police suspect that these accounts were used to receive and transfer money obtained through fraudulent online investment schemes.
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How Did the ₹92 Lakh Fraud Occur?
The investigation began after a Bhubaneswar resident was allegedly cheated of ₹91.90 lakh through a social media investment scam.
According to police, the fraudsters approached potential victims through platforms including Facebook and WhatsApp, offering investment opportunities that promised unusually high returns.
Victims were allegedly persuaded to transfer money into bank accounts controlled by the network.
The funds were subsequently moved through several accounts, making the financial transactions difficult to trace.
What Was the Chinese Connection?
Investigators found that Nayak allegedly maintained contact with Chinese cyber fraud operators through Telegram.
He is suspected of acting as a local intermediary responsible for arranging bank accounts that could be used to receive fraud proceeds.
Police believe these accounts helped the operators move money through the banking system while concealing the financial trail.
How Were Cryptocurrency Payments Involved?
Investigators alleged that Nayak received commissions in cryptocurrency for supplying mule bank accounts to the network. The arrangement reportedly allowed the accused to receive payments for facilitating financial transactions linked to the fraudulent operation.
Police are examining the suspected relationship between the account suppliers and the overseas operators involved in the scheme.
How Many People Have Been Arrested?
With Nayak’s arrest, the total number of accused apprehended in the case has reached five. Four other individuals had previously been arrested during the investigation.
The latest arrest has brought attention to the alleged network of intermediaries responsible for providing banking infrastructure to cyber fraud operators.
What Does This Mean?
The case highlights how overseas cyber fraud networks allegedly rely on local mule account suppliers to collect and transfer stolen money. The use of social media investment offers, multiple bank accounts and cryptocurrency commissions illustrates the methods investigators are examining in the ₹91.90 lakh fraud.
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