Pimpri-Chinchwad cyber police have uncovered an alleged cyber-fraud network that obtained 70 bank accounts from ordinary citizens, particularly women in Goa, by promising to arrange loans and then used those accounts to receive money linked to online fraud cases. Two men from Goa and Kolkata have been arrested in connection with the investigation, police said.
The arrested suspects have been identified as Abhikes Mohan Aachrekar, 34, from Goa, and Anmol Sharma, 32, from Kolkata, West Bengal. Police said the accounts were used as “mule accounts” — bank accounts controlled or provided to others to receive and move proceeds from financial crimes.
The investigation began after a manager at a private company was allegedly induced to invest in foreign share markets, the stock market and initial public offerings on the promise of a 500% return. The victim lost ₹83.80 lakh, according to information provided by Deputy Commissioner of Police Rohidas Pawar. A case was subsequently registered at the Pimpri-Chinchwad cyber police station.
During the investigation, officers found that ₹30 lakh from the complainant had been deposited into a bank account. Police determined that the account was jointly held by Aachrekar and a woman. Investigators also found that Aachrekar frequently changed his place of residence, prompting the police to use technical analysis to trace his movements.
A police team detained him at Khed Shivapur after receiving information that he had travelled to the Pune area. During questioning, police allegedly found that Aachrekar had worked with associates to collect bank account details from residents in Goa. The accounts were reportedly obtained by promising women and other ordinary citizens that loans would be arranged for them.
Police said approximately 70 accounts were collected in this manner and later used by Sharma and other associates to receive money connected to cyber-fraud cases. The accounts had received transactions worth crores of rupees, according to the preliminary investigation. Authorities have not yet disclosed the total amount routed through the accounts or the number of separate victims linked to the transactions.
The investigation is continuing, with financial and technical teams examining the account activity, digital communications and the roles of other suspected associates. Police have warned citizens not to hand over their bank accounts, account credentials or banking access to people offering loans or other financial services. Further details are expected as the financial and technical investigation progresses.
