A major development has emerged in the investigation into an alleged international cyber fraud worth over ₹200 crore, with police filing a 635-page chargesheet against five accused before a local court. The chargesheet reportedly contains statements of 12 witnesses, WhatsApp conversations, banking records, forged GST-related documents and other digital evidence that investigators believe establish the operation of the alleged fraud network.
According to the investigation, the case came to light after Jiri Gengela, a businessman from the Czech Republic, lodged a complaint via email alleging that he had been deceived by individuals posing as representatives of Vardhman Industries, based in Panki, Kanpur. The accused allegedly offered industrial goods at attractive prices and fraudulently obtained nearly ₹2 crore (approximately US$200,000) from the complainant. Based on the complaint, police registered a case and launched a detailed investigation.
Investigators found that the money transferred by the complainant was deposited into bank accounts operated in the name of Vardhman Industries at Indian Bank and Canara Bank. The funds were subsequently routed through multiple bank accounts, including accounts located in Mumbai, as part of an alleged layering process. Police examined the banking trail and digital financial transactions to reconstruct the movement of the funds and identify those allegedly involved.
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During the course of the investigation, police arrested five accused who are alleged to have facilitated the fraud by using multiple bank accounts, shell business entities and financial intermediaries to move the proceeds of the alleged crime. Mobile phones, digital records and financial documents recovered from the accused have also been included as part of the evidence submitted before the court.
The chargesheet includes WhatsApp conversations allegedly exchanged among the accused, forged GST registration documents, bank account details, transaction records and other electronic evidence. Investigators believe these materials provide important insights into the alleged modus operandi of the cyber fraud network and the movement of funds through the financial system.
Preliminary findings suggest that the alleged operation may not have been limited to a single victim. Investigators are also examining allegations that the network targeted businessmen from several European countries by impersonating legitimate Indian companies and offering goods at discounted prices to fraudulently obtain advance payments. Authorities are continuing to investigate the possible involvement of additional individuals, shell companies and bank accounts linked to the alleged operation.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said international Business Email Compromise (BEC) schemes and fake trading platforms are increasingly being used by cybercriminals to target overseas businesses. According to him, such networks often rely on social engineering techniques, forged documents and mule bank accounts to conceal financial transactions, making digital evidence, banking trails and international cooperation crucial for exposing the entire conspiracy.
Police said the investigation remains ongoing, and further legal action will be taken based on additional digital evidence, banking records and documentary material. Authorities added that if the probe reveals the involvement of any other individuals or organisations, appropriate action will be initiated in accordance with the law.
