Nagpur (Maharashtra): Nagpur Police have uncovered a suspected financial fraud in which bank accounts allegedly opened in the names of women were used to route transactions worth more than ₹7.86 crore in what investigators suspect could be a cyber fraud money mule network. Police have registered separate cases at Tehsil and Shanti Nagar police stations and launched an investigation into the money trail, bank account operations and the possible involvement of a wider cybercrime syndicate.
According to the police, the main accused has been identified as Manda Gopalrao Gumgaonkar (42), while her alleged associate Shubham is currently absconding. Investigators allege that the accused targeted women in need of financial assistance by promising to arrange loans through self-help groups and cooperative societies. As part of the purported loan process, they allegedly collected Aadhaar cards, PAN cards and other identity documents from applicants.
Police said the accused also allegedly charged ₹2,000 from each applicant as a processing fee. One of the complainants, Nanda Nitin Bedekar, told investigators that she and 38 other women collectively paid around ₹80,000 to the accused in the hope of obtaining loans. However, instead of receiving financial assistance, bank accounts were allegedly opened in their names at SVC Co-operative Bank without their knowledge or informed consent.
During the investigation, police found that transactions amounting to ₹7,68,64,481 (about ₹7.68 crore) were allegedly routed through these accounts within a span of just one and a half months. Investigators suspect that these accounts functioned as mule accounts, commonly used by cyber criminals to receive and transfer money obtained through online fraud before moving it to other accounts to conceal the origin of the funds.
In a separate but similar case registered at Shanti Nagar Police Station, complainant Manasi Vijay Nimje (28) alleged that she had also submitted her identity documents after being promised a loan. Police claim that a bank account was subsequently opened in her name without her knowledge. Investigators found that transactions worth ₹17.85 lakh had allegedly passed through the account during the relevant period. Police are examining whether both cases are connected and whether the same network targeted multiple victims using a similar modus operandi.
Investigators are now tracing the financial trail to determine where the money originated, the accounts through which it was transferred and the identities of the individuals who ultimately received the funds. Authorities are also verifying whether additional women were similarly induced to submit their identity documents and whether more bank accounts were opened using the same method.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said cybercriminals increasingly exploit financially vulnerable individuals by convincing them to share identity documents under the pretext of loans, jobs or government benefits. He cautioned that such documents are often misused to open mule bank accounts, which become conduits for laundering proceeds of cyber fraud. He advised citizens never to hand over original identity documents without verifying the authenticity of the organisation and to regularly monitor their banking records for any unauthorised accounts or transactions.
Police said the investigation remains underway and efforts are continuing to locate the absconding accused, identify other members of the alleged network and determine whether the accounts were linked to cyber fraud cases reported in other parts of the country. The allegations against the accused will ultimately be tested during judicial proceedings on the basis of evidence presented before the court.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
