Cyber police in Bihar’s East Champaran district have uncovered an alleged conspiracy to illegally transfer ₹56 crore from a private company’s corporate bank account to overseas accounts. Nine accused have been arrested in connection with the case. Police said timely intervention helped prevent the suspected transfer of funds. Two four-wheelers, 10 smartphones and a laptop were seized from the accused. Preliminary examination of the laptop revealed bank login credentials belonging to multiple companies, suspicious portals and other digital evidence.
Investigators are now examining the alleged international network and the possible involvement of bank employees.
How Were Nine Accused Arrested?
Police received confidential information that a cybercrime gang was planning to assemble in the Pakridayal police station area. Acting on the tip-off, a special team was constituted to conduct a raid at the suspected location. During the operation on Monday night, all nine accused were arrested at the spot.
According to police, two four-wheelers, 10 smartphones and a laptop were recovered from the accused. Preliminary technical examination of the laptop revealed login credentials associated with the bank accounts of several companies, suspicious online portals and other digital evidence.
The seized electronic devices have been sent for detailed forensic examination to establish the alleged modus operandi and identify other individuals who may have assisted the gang. Investigators are also examining the digital records to determine how the suspects obtained access to sensitive banking information.
How Was ₹56 Crore Targeted?
The investigation has revealed that members of the alleged gang collected information about bank accounts, including user IDs, registered mobile numbers and available balances.
According to police, the accused had obtained login credentials associated with a private company’s corporate bank account containing approximately ₹56 crore.
The gang allegedly planned to transfer the entire amount to accounts in Dubai through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) banking system. Police action reportedly prevented the suspected transfer before the money could be moved out of the account.
Investigators are now trying to establish how the company’s sensitive banking information reached the accused. They are also examining the digital channels and suspicious online portals allegedly used to obtain or access the banking credentials.
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What Was the Dubai-USDT Plan?
Preliminary findings point to an alleged network connected to Dubai. According to the investigation, the suspected mastermind based overseas was expected to receive the transferred funds, deduct a commission of 30 per cent and convert the remaining 70 per cent into Tether (USDT), a cryptocurrency pegged to the US dollar.
The cryptocurrency was allegedly intended to be routed to other members of the network in India, who would facilitate its conversion into cash or transfer it through banking channels.
However, the precise roles of the arrested individuals, the proposed movement of funds and the alleged cryptocurrency conversion arrangements are still being investigated. These aspects will require further verification through digital evidence and financial records.
Police also suspect that certain bank employees may have assisted the gang in obtaining corporate account information or facilitating the proposed transaction. Investigators are examining this possibility, but the involvement of any bank employee has not yet been conclusively established.
Who Are the Nine Accused?
Of the nine arrested accused, three are residents of Sheohar district and six belong to East Champaran district.
The accused from Sheohar have been identified as Arvind Kumar and Manoranjan Kumar, both residents of Sundarpur Kharouna, and Ramnath Thakur, a resident of Chiknauta.
The six accused from East Champaran are Anand Kishore, a resident of Majhar in Pakridayal; Niranjan Yadav alias Neeraj Kumar, from Gonahi in Patahi; Santosh Ram alias Santosh Kumar, from Devapur in Kalyanpur; Sandeep Kumar, from Bijulpur Baksawa in Turkaulia; Vijay Kumar, from Kotwa Bajpeyi Tola in Paharpur; and Pappu Jaiswal, from Shripur Bharwalia in Sugauli.
Police are examining the individual roles of the arrested suspects to determine how they were allegedly connected to the planned transfer and the wider network.
What Are Investigators Examining?
Police said an FIR has been registered and further legal proceedings are underway. The Economic Offences Unit (EOU) and cyber police are conducting technical investigations to identify other members of the alleged gang and establish whether additional individuals were involved.
The investigation is focusing on digital evidence recovered from the laptop and smartphones, the source of the corporate banking credentials, the alleged Dubai-linked network and the possible involvement of bank employees.
Investigators are also checking whether the gang had previously targeted other companies or bank accounts using similar methods.
With nine arrests made, the agencies are now working to identify further links in the alleged network. The full extent of the conspiracy, the roles of other suspected associates and the circumstances surrounding the attempted transfer of ₹56 crore are expected to become clearer as the investigation progresses.
The420 Insight
The alleged conspiracy highlights the financial risks associated with unauthorised access to corporate banking credentials. The recovery of login details linked to multiple companies makes the source and handling of sensitive account information an important part of the investigation. The suspected involvement of bank employees remains unproven, while the proposed overseas transfer and cryptocurrency conversion are still being examined.
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