Sagar: A suspected network involved in creating fake firms using the documents of unemployed and financially vulnerable people and opening bank accounts in their names has been uncovered in Madhya Pradesh’s Sagar. According to police, the accounts were allegedly used to route money linked to cyber fraud and online betting. The preliminary investigation has identified more than 16 suspected fake firms, with transactions worth over ₹5.50 crore detected in their linked bank accounts. Two accused have been arrested, while three others are reportedly absconding.
The case came to light after a complaint was filed at Makronia police station on August 13. Rohit Patel told police that his documents had allegedly been misused to create a firm called Glamour Enterprises in his name and open a current account at Federal Bank’s Makronia branch. According to the complainant, he had no knowledge of the firm or the transactions being carried out through the account.
₹90 Lakh Moved Through One Account in Six Months
After receiving the complaint, police examined the bank account linked to Glamour Enterprises. The investigation reportedly found transactions of around ₹90 lakh through the account over nearly six months from February 2026. The large volume of financial activity prompted investigators to examine the firm’s registration details, banking records, documents and other technical evidence.
During the investigation, police arrested Dharmendra Haridas Nahar and Sonu Rameshwar Dangi. According to police, Dharmendra allegedly told investigators that he had learned the method of arranging such bank accounts from Amit Vishwakarma, a resident of Bhopal, while in Mumbai. Police said Amit allegedly explained that bank accounts were required to route money generated through online gaming and betting activities.
Dharmendra allegedly then worked with Sonu Dangi and three other people from Bhopal — Sarman alias Shubham Raikwar, Vipin Giri and Swarnendra Pandey — to establish the suspected network. Police allege that members of the group approached unemployed and financially vulnerable people by offering them money. Their Aadhaar, PAN and other documents were allegedly obtained and used to create firms in their names. Current accounts were then opened with private banks and allegedly used to transfer funds.
More Than 16 Firms Under Investigation
Police have so far identified more than 16 firms, including Glamour Enterprises, Bhupendra Enterprises, Surya Enterprises, Samriddhi Tour and Travels, Lovely Sweet and Masala Chaat Centre, Kartik Electronics, Star Enterprises, Rajput Enterprises, Anubhav Traders, Sagar Traders, Sharma Ji Enterprises, Saurabh Enterprises, Makhan Enterprises, Ankesh Enterprises, Tanvik Enterprises and Unique Tour and Travels.
Preliminary scrutiny of the bank accounts associated with these firms has revealed transactions exceeding ₹5.50 crore. Investigators are now tracing the sources of the funds deposited into these accounts and identifying the accounts to which the money was subsequently transferred. Police are also examining whether the firms had any genuine commercial activity or were allegedly created primarily to provide banking channels for suspicious transactions.
Alleged Use of Mule Accounts
Police suspect that bank accounts opened using other people’s identities and documents were being used to move proceeds allegedly generated through cyber fraud and online betting. Such accounts can make it difficult for investigators to immediately establish a direct link between the money and the people actually controlling the fraudulent operation.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said mule bank accounts can become a crucial link in concealing the movement of money in cybercrime networks. He said identifying only the account holder is not enough; investigators must establish who actually controlled the account, on whose instructions funds were transferred and who ultimately benefited from the transactions. Linking banking records with digital evidence is essential to uncover the actual structure of such networks.
Two Arrested, Three Absconding
Police have arrested Dharmendra Haridas Nahar, 38, a resident of the Shivnagar Baheria area, and Sonu Rameshwar Dangi, 28, a resident of Bamori Ghat village in Jaisinagar. Amit Jagdish Prasad Vishwakarma, Vipin Ashok Giri and Swarnendra Chandrabhan Pandey, all residents of Bhopal, are reportedly absconding. Police are conducting searches to locate them.
The Sagar police are conducting a detailed financial analysis of all linked bank accounts. Investigators are examining the registration of the suspected fake firms, documents used to open accounts, mobile numbers and subsequent fund transfers. Police are also trying to determine how many people’s documents were allegedly used by the network and how much money linked to cyber fraud and online betting passed through the accounts. Further investigation may reveal additional bank accounts, transactions and members connected with the suspected network.
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.
