Bengaluru cyber police have arrested three men in an alleged online trading and investment fraud that caused a Peenya resident to transfer Rs 93,58,555, while uncovering a network involving 507 bank accounts, fake mobile applications and digital links to Kolkata, Hong Kong and California.
The case began after the resident filed a complaint on May 28, alleging that he had been induced to transfer the money into multiple bank accounts. During the investigation, police identified accounts allegedly procured from individuals and supplied to the cyber-fraud network for routing money.
Investigators found that approximately Rs 13 lakh in suspected fraud proceeds moved through an account with a government-owned bank, while more than Rs 38 lakh passed through a particular current account with a private bank. Police said the account details and the roles of those involved were still being examined.
The investigation initially produced few leads. Police later traced a mobile phone to a building in Lucknow, Uttar Pradesh, and identified Amit Mishra, a resident of East Singhbhum district in Jharkhand, as an alleged key operator. An officer said investigators had tracked Mishra for nearly two months before arresting him at a Bengaluru hotel on September 8, when he arrived in the city.
Police subsequently identified Tausif Ahmed and Parashuram Sadanand Kannanavar, also known as Pavan Kumar, as alleged associates. They were arrested on September 9. According to the police, investigators initially considered the two men possible victims, but technical analysis of Mishra’s devices allegedly indicated that they were his partners. Six mobile phones were recovered from the three accused.
A fourth suspect, identified as Anoop, also known as Julpi, remains untraced. Police are also attempting to identify and locate people operating through the Telegram handles “@zhangxueyou123” and “@SZNKM”. The investigation has mapped several other alleged associates linked to a platform called “ZNPAY”, as well as further contacts identified by names including Sumon, Nick, Dilawar, Iftikhar, Abhinav, Vivek, Nawaz, Shihab Boy, Dinesh, Sulpikar and Ashraf. Police said the specific roles and extent of involvement of each person were being investigated.
According to the police, the network obtained current, corporate and trust bank accounts, along with net-banking credentials and linked SIM cards, by offering account holders commissions. A hotel in Kachuvanahalli allegedly served as a temporary operations centre. Police said account holders were promised large donations and were asked to remain at the hotel while funds were routed through their accounts.
Investigators said fraudulent applications identified as “ZNPAY” and SMS-forwarding APK files were installed on the account holders’ phones. These applications allegedly intercepted banking one-time passwords and SMS alerts sent to linked SIM cards, enabling the accused to access and operate the accounts remotely. Police said account suppliers and intermediaries were paid between Rs 1.5 lakh and Rs 2 lakh.
The money was allegedly moved through several accounts before being transferred to a Binance cryptocurrency wallet. Details of the suspected applications, along with 51 other suspicious APK files, have been sent to the Indian Cybercrime Coordination Centre for technical analysis.
Digital forensic examination of Telegram, Botim and WhatsApp accounts used by the accused and other suspects reportedly identified internet-protocol addresses associated with Kolkata, Hong Kong and California. Police said the findings were being verified with the relevant service providers and that the investigation into possible cross-border links was continuing.
