Kanpur | The investigation into an alleged mule account network linked to a ₹58 crore digital arrest and investment fraud has entered a crucial stage, with Kanpur Police preparing a nearly 3,500-page charge sheet against eight accused, including four bank officials. According to investigators, the charge sheet is expected to be filed before the court within the next few days. However, the alleged mastermind, Rajveer Singh Yadav, and his close associate, Anchit Goyal, remain absconding. Both carry a reward of ₹25,000 each, and efforts to trace them are continuing.
According to the police, the case is connected to an alleged ₹58 crore cyber fraud reported in Navi Mumbai in October 2025, where victims were allegedly deceived through digital arrest scams and fake investment schemes promising high returns. During the investigation, authorities found that the defrauded funds had been routed through multiple mule bank accounts to obscure the origin of the money and conceal the identities of the ultimate beneficiaries.
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Investigators said the alleged network came to light after approximately ₹2.5 crore from the fraudulent proceeds was traced to the bank account of an individual identified as Shubham Gaur. A detailed examination of financial transactions, banking records, and digital evidence subsequently led investigators to the suspected mule account network.
Police allege that Rajveer Singh Yadav, a resident of Barra in Kanpur, was the principal operator of the network. According to the investigation, he, along with Agra-based associate Anchit Goyal, allegedly colluded with certain bank officials to open multiple bank accounts under different names and addresses using the same mobile number. Investigators claim these accounts were used to receive cyber fraud proceeds, transfer funds across multiple accounts, and disguise the financial trail.
So far, eight accused, including four officials from private sector banks, have been arrested and sent to judicial custody. The arrested individuals include branch managers, an operations manager, a deputy manager, a relationship manager, and several alleged associates. Police are examining their alleged roles in facilitating the opening of bank accounts, irregularities in customer verification, and enabling suspicious financial transactions.
According to investigators, the nearly 3,500-page charge sheet contains extensive digital evidence, banking records, electronic documents, forensic analysis, and detailed financial transaction trails. The prosecution has also listed around 20 witnesses, including victims, police personnel, and other individuals connected with the investigation.
The investigation remains ongoing, with police continuing efforts to apprehend the absconding accused and identify other members of the alleged network. Authorities said the role of at least 13 additional suspects is also under examination. Their bank accounts, digital activities, and financial transactions are being scrutinised to uncover the full extent of the alleged cyber fraud syndicate.
Commenting on the case, renowned cybercrime expert and former IPS officer Prof. Triveni Singh said mule bank accounts have become one of the most critical components of organised cyber-enabled financial crimes. He noted that cybercriminals frequently lure individuals with commissions to open or provide bank accounts, which are then used to rapidly move fraudulent funds across multiple layers to make detection more difficult.
He stressed that robust Know Your Customer (KYC) compliance, continuous monitoring of suspicious transactions, and greater public awareness are essential to disrupting such organised cybercrime networks. He also advised citizens never to allow others to use their bank accounts in exchange for money or commissions, warning that doing so could expose them to serious criminal liability.
