A Hyderabad cyber fraud investigation that began with a bizarre promise of ₹45 lakh for an old ₹1 currency note has led police to a suspected mule-account network linked to around 450 cybercrime cases across India.
Hyderabad Cyber Crime Police have arrested Gumma Ramesh, 39, and Mudale Anil, 19, both residents of Ramanthapur.
Police allege the pair helped collect dozens of bank accounts, banking credentials and SIM cards before supplying them to cybercriminals operating through contacts in Haryana.
Investigators estimate that accounts connected with the wider network were involved in transactions worth approximately ₹60 crore to ₹70 crore.
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₹7.93 Lakh Fraud Triggered the Investigation
The investigation began after a Hyderabad resident approached police on September 25.
The victim said unknown persons contacted him through Facebook and promised to pay ₹45 lakh for an old ₹1 currency note.
He allegedly followed their instructions and transferred ₹7,93,351 before realising that the promised payment would never arrive.
The420.in had earlier reported that original fraud when the complaint was filed.
The latest police investigation has now shifted attention from the individual scam to the financial infrastructure allegedly supporting a much larger cybercrime network.
60–70 Bank Accounts and SIM Cards Allegedly Collected
Police say Ramesh and another accused who remains absconding approached people in Ramanthapur and nearby areas and offered commissions in exchange for control of their bank accounts.
Students, delivery workers and other local residents were allegedly among those targeted.
Investigators say the group collected between 60 and 70 accounts along with passbooks, ATM or debit cards, internet-banking credentials and SIM cards.
The material was then allegedly couriered to contacts in Haryana for use in cybercrime operations.
Anil allegedly opened three savings accounts in different banks and handed over the credentials to Ramesh in exchange for commission.
Police claim both arrested men knew the accounts and SIM cards would ultimately be used for cyber fraud.
Those allegations remain subject to investigation and court proceedings.
Network Linked to Around 450 Cybercrime Cases
The most significant development is what police say they discovered after examining the accounts.
According to Hyderabad Cyber Crime Police, the mule-account network appears to have links to around 450 cybercrime complaints across India.
Transactions associated with the network are estimated at approximately ₹60 crore to ₹70 crore.
That figure should not be interpreted as money stolen by the two arrested men personally.
It represents the suspected transaction volume connected with the wider network and the accounts investigators are examining.
Police are still working to determine which accounts were used in which frauds, how much money moved through each one and who ultimately controlled the proceeds.
Accounts Allegedly Sent to Cybercriminals in Haryana
Investigators say the banking material collected in Hyderabad was physically sent to associates in Haryana.
That detail points to a division of labour inside the alleged operation.
One layer allegedly recruited account holders and obtained banking credentials.
Another layer could then use those accounts to receive, transfer or withdraw fraud proceeds while keeping the main cybercriminals away from the first stage of the financial trail.
This structure is increasingly common in cybercrime cases.
Fraud operators may be located in one state, their mule accounts in another and their victims spread across the country.
Mule Accounts Make Cyber Fraud Harder to Trace
A mule account is a bank account used to receive or move money linked to criminal activity on behalf of someone else.
Some people knowingly rent their accounts for commission.
Others may be deceived into believing they are participating in legitimate work.
Once fraud proceeds enter a mule account, the money can be rapidly transferred through several accounts, withdrawn through ATMs or moved into other financial channels.
That makes investigators’ job harder because the person whose name appears on the bank account may not be the person directing the fraud.
Telangana authorities have recently intensified action against such networks. In a separate multi-state operation this month, the Telangana Cyber Security Bureau arrested 101 people, including 83 alleged mule-account holders and 18 agents.
Police Search for Absconding Accused and Wider Network
Ramesh and Anil were apprehended in Ramanthapur on October 8, and police seized two mobile phones.
The arrests were publicly disclosed along with details of the suspected ₹60–70 crore network on October 11.
Investigators are now examining bank transactions, mobile-phone data and links with the Haryana-based contacts who allegedly received the banking credentials.
Police are also searching for another accused who remains absconding.
The case has been registered under Sections 66C and 66D of the Information Technology Act and Sections 318(4), 319(2), 336(3) and 340(2) of the Bharatiya Nyaya Sanhita.
What this means for you
Never hand over your bank account, SIM card, debit card or internet-banking credentials to someone offering commission. Even if you never speak to a fraud victim yourself, allowing your account to receive stolen money can connect you to cybercrime cases across multiple states.
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