Kanpur. Shahzeb Waris, wanted in a case involving alleged illegal transactions and cyber fraud worth around ₹5,600 crore, has been arrested at Hyderabad airport. After the accused fled to Dubai, police took the help of two private investigation agencies there. The agencies were provided with his photograph, passport details and other information and kept track of his movements. When they alerted police that he had returned to India, a team tracked him to Hyderabad and arrested him as he exited the airport.
The investigation followed a report running into nearly 5,000 pages, after which two cases were registered against Shahzeb and his associates. Police allege that the accused fled the country after learning that cases were being registered against him. According to the investigation, he flew to Dubai after booking a ticket soon after the FIR was registered on August 18. He returned to India about three days later, but allegedly learned about the police operation before the team could reach him. He then fled to Dubai again on August 25 along with five associates.
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Police subsequently contacted two private investigation agencies in Dubai to trace him. The agencies were given Shahzeb’s photograph, passport details and other necessary information. Private investigators monitored his movements and contacts in Dubai. Their surveillance eventually helped establish that he was returning to India. After Shahzeb arrived in Hyderabad from Dubai, the police team monitored his movements at the airport and arrested him as he came out.
Following his arrest, police are questioning Shahzeb about the alleged cyber fraud, illegal transactions and the network allegedly used to route and conceal the money through different bank accounts. Investigators are trying to establish his exact role in the alleged ₹5,600 crore transactions and identify the accounts, firms and individuals through which the money was allegedly transferred.
The investigation has also brought the name of Ikhlaq Hussain, a resident of Sanigwan in Chakeri, to the fore. He is reportedly the son of a police sub-inspector. According to police, his bank accounts recorded transactions worth around ₹180 crore within just eight days in 2024. Around 1,200 transactions were reportedly carried out during this period, raising serious questions about the source and movement of the funds.
After the suspicious transactions were detected, local police allegedly questioned Ikhlaq at the police station for two days. He allegedly produced documents related to his purported companies and business activities and presented himself as a businessman, following which he was released. Investigators are now examining whether these companies and bank accounts were connected to the alleged fraud network.
Police have identified five accounts in Ikhlaq’s name—two with HDFC Bank and one each with Bank of Baroda, State Bank of India and ICICI Bank. Around ₹89 crore was found across these accounts, and the funds have been frozen as part of the investigation. Investigators are now examining the source of the money, transfers to other accounts and subsequent withdrawals.
The role of bank employees has also come under scrutiny. Police allege that thousands of accounts were opened across 14 banks in Kanpur to route and absorb the alleged ₹5,600 crore generated through digital-arrest scams, investment fraud and alleged tax evasion. The investigation indicates that accounts belonging to people with ordinary incomes were allegedly used for transactions and withdrawals involving crores of rupees, raising questions over whether banking-level monitoring mechanisms were properly followed.
Investigators are examining the role of bank officials and employees in opening these accounts, monitoring transactions and allowing large-value transfers and withdrawals. Bank managers and employees involved in account opening are expected to be questioned. Police have prepared a list of questions, and legal action will follow if evidence establishes wrongdoing.
The investigation has also uncovered an alleged bribery case involving the Filkhana branch of State Bank of India. Mohammed Arif, who is allegedly linked to the network, had applied for a loan of ₹2 crore. A former bank official is accused of accepting a ₹20 lakh bribe and sanctioning a loan of ₹1.75 crore. The official is currently posted in Hardoi. Police have written to the bank management recommending action against him.
Police are now using Shahzeb’s interrogation to piece together the alleged fraud network. Investigators are examining the Dubai connection, bank accounts, suspected shell firms, financial transactions and the roles of other people linked to the case. Further details about the network and the movement of the money are expected to emerge from the interrogation and analysis of bank records.
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.
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