NewzVille Desk
The Central Bureau of Investigation, CBI, has conducted searches at multiple locations across Karnataka, Tamil Nadu, and Kerala in connection with a case related to a large-scale organised cyber-enabled part-time job and investment fraud.
During the action carried out under Operation Chakra V, three persons were arrested yesterday. Â In this case, thousands of innocent citizens across India were allegedly cheated out of crores of rupees through deceptive online schemes.
The Agency, in a statement, said that during the investigation, it was revealed that the accused persons and their associates created a complex network of shell companies across India, primarily in Bangalore, to channel and launder the proceeds of crime.
The fraudsters, including foreign operatives, devised a sophisticated modus operandi involving the use of digital advertisements to promote fraudulent schemes.
Using forged credentials and fraudulently obtained digital signatures, they incorporated multiple shell companies and opened numerous bank accounts in their names to collect funds from victims.
The Agency said that several Indian nationals were operating under the direction of foreign-controlled entities involved in illegal online gambling and investment fraud operations. It added that substantial financial flows were traced to accounts associated with these entities, indicating an extensive transnational cyber fraud network.
