Pune. Police in Pune’s Wanwadi area have uncovered an alleged network of mule bank accounts and arrested five youths in connection with suspected cyber fraud transactions. Investigators allege that the accused paid people to open bank accounts in their names and then used those accounts to route money obtained through cyber fraud. Police said links to complaints from 19 victims across the country have so far emerged, involving alleged cyber fraud of ₹1.80 crore.
The arrested accused have been identified as Shravan Rajendra Ankush (25), a resident of Dhangarvasti, Devachi Uruli; Hariom Hariram Sahu (24) of Salunke Vihar; Saad Idphan Shaikh (23) of Yerawada; Sahil Raif Shaikh (25); and Talib Noor Mohammad Shaikh (25) of Mhonawadi. According to police, the accused were connected through mutual acquaintances and had allegedly been operating the network for around one-and-a-half years.
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The case came to light during an investigation into bank accounts that appeared repeatedly in different cyber fraud complaints. Investigators found that money allegedly obtained through cyber fraud was reaching certain accounts either directly or through first- and second-layer accounts. Initial scrutiny of the accounts brought under investigation revealed transactions worth ₹6.09 lakh. As the probe expanded, complaints from 19 victims linked to the alleged network surfaced, with the total amount allegedly defrauded standing at ₹1,80,15,795.
Investigators are now focusing on mapping the complete flow of the money. Police are trying to establish which account first received the money from each victim, where it was transferred subsequently and who ultimately benefited from the proceeds. The exercise is also aimed at determining the alleged role of each accused and identifying the final beneficiaries of the network.
Accounts allegedly arranged for commission
According to police, Shravan Ankush allegedly played an important role in operating and coordinating the accounts. Hariom Sahu, meanwhile, is accused of approaching acquaintances and other people and persuading them to open bank accounts in their names. Investigators allege that account holders were paid around ₹5,000 in exchange for providing access to their accounts, while Sahu allegedly received around ₹3,000 as commission for arranging each account.
The investigation has alleged that Sahu persuaded Saad Shaikh, Sahil Shaikh, Talib Shaikh and others to open bank accounts. These accounts were opened at different locations and were subsequently allegedly handed over to Ankush. Police suspect that money linked to cyber fraud reached some of these accounts either directly or through intermediary accounts.
Investigators are also examining whether the arrested accused were limited to arranging bank accounts or whether they allegedly played a larger role in transferring and using proceeds generated through cyber fraud. Police are also probing whether the alleged fraud proceeds were used to purchase movable or immovable assets or expensive goods. A car has been recovered during the investigation, and its purchase as well as the source of funds used for other acquisitions are being examined.
Entire mule-account network under investigation
According to police, mule accounts provide cybercriminals with an additional layer between victims and the ultimate beneficiaries of fraudulent transactions. In such cases, bank accounts are opened using the account holders’ KYC documents and are subsequently made available to other individuals for use or operation. Investigators are now trying to determine how many such accounts were opened, the total value of transactions conducted through them and whether the account holders were aware of the alleged cyber fraud.
Transaction-related records obtained from Maharashtra Cyber also helped investigators advance the probe. Police are now working to identify additional account holders, further layers of the alleged network and the final destination of the money.
An FIR has been registered at Wanwadi police station under FIR No. 343/2026. The case has been registered under Sections 112(2), 61(2), 318(4) and 3(5) of the Bharatiya Nyaya Sanhita and Section 66(D) of the Information Technology Act. The investigation is ongoing.
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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