New Delhi, Nov. 1 — Five people, including a relationship manager at a private bank, have been arrested for allegedly being part of a cyber fraud syndicate that duped victims across India of nearly Rs.500 crore through fake stock investment schemes, the Delhi Police crime branch said on Friday. The racket was allegedly run for over a year by a Dubai-based Indian kingpin named Tom.
Deputy commissioner of police (crime) Aditya Gautam said the accused were paid Rs.1.5 lakh for every bank account opened to route laundered funds. “Acting on the instructions of the syndicate’s Dubai-based kingpin named Tom, the accused earned Rs.1.5 lakh commission for every bank account opened for the racket’s operations,” he said.
Those arrested were ident…
About the Author
