Hyderabad Cyber Crime Police have arrested four people for allegedly supplying mule bank accounts and SIM cards to fraudsters involved in a ₹37.4 lakh online trading scam. Investigators have identified 20 mule accounts and linked the suspected network to approximately 54 cybercrime cases across India.
How Did the Online Trading Fraud Begin?
The investigation began after a woman approached Hyderabad Cyber Crime Police on April 4, 2026, alleging that she had been cheated of ₹37.4 lakh.
According to police, the victim was persuaded to invest through trading platforms promoted on WhatsApp. The fraudsters allegedly promised high returns to convince her to transfer money.
Following her complaint, police registered a case under Sections 66(C) and 66(D) of the Information Technology Act and Sections 318(4), 319(2), 336(3) and 340(2) of the Bharatiya Nyaya Sanhita (BNS).
Inspector Y Gowru Naidu took up the investigation.
Who Are the Four Arrested Accused?
Police arrested Panduraju Abhishek, 26, a private employee working as an interior designer and residing in Pocharam, Hyderabad. He is originally from Bhongir district.
The other three accused were identified as Maroju Subrahmanya Chari, alias Bannu, 25, a driver; Gedela Nani, 28, also a driver; and Alamanda Manikanta, 20, a helper. All three are residents of Bhimavaram in Andhra Pradesh.
Investigators initially arrested Chari, Nani and Manikanta in Bhimavaram. Abhishek was subsequently arrested in Pocharam and brought to the Cyber Crime Police Station for questioning.
How Did the Mule Account Network Operate?
According to police, Abhishek was facing financial difficulties when he came into contact with a Chinese national through WhatsApp.
The individual allegedly offered him commissions for supplying mule bank accounts and SIM cards that could be used to transfer proceeds of cyber fraud.
Abhishek then approached the other three accused and allegedly offered ₹10,000 for each bank account.
After collecting the account details and SIM cards, he reportedly inserted the SIM cards into his mobile phone and transferred suspected fraud proceeds to other mule accounts allegedly controlled by the Chinese national.
Police said Abhishek received a commission equivalent to 4% of the total amount transferred through the accounts. He allegedly withdrew his commission from nearby automated teller machines.
What Did Police Recover During the Investigation?
Investigators identified 20 mule bank accounts allegedly used to facilitate the movement of money obtained through online investment scams.
Police also seized nine mobile phones, 10 debit and credit cards, six bank passbooks and eight cheque books.
The seized banking documents and electronic devices form part of the investigation into how the accounts were supplied and used to transfer suspected fraud proceeds.
How Many Cybercrime Cases Are Linked to the Network?
The investigation has established suspected connections to approximately 54 cybercrime cases registered across India.
According to police, the suspected fraudulent transactions associated with these cases amount to around ₹10 crore.
The findings indicate that the alleged mule account operation may have extended beyond the original ₹37.4 lakh trading fraud complaint.
Investigators are examining the financial transactions and account details to establish the extent of the network’s involvement in other cases.
The Hyderabad investigation highlights how online investment fraud can depend on individuals who supply bank accounts and SIM cards to move stolen money. The alleged connection between 20 mule accounts, approximately 54 cybercrime cases and transactions worth around ₹10 crore demonstrates why tracing the financial network is as important as identifying those who initially deceive victims.
Follow for daily updates on cybercrime, corporate fraud, DFIR, hacking, investigations, and digital forensics
