Rs 58-Crore Cyber Fraud Case: Rs 513 Crore Routed Through Foreign Bank Account in 14 Months; 6 More Arrested

The Maharashtra Cyber Police have uncovered a massive fraud in which a city-based business couple was duped of ₹58 crore in an elaborate cybercrime racket. Investigations have revealed that the swindled funds were transferred into a foreign “mule” bank account — an account used by cybercriminals to route illegal money across borders. Shockingly, over ₹513 crore worth of transactions — including large cash deposits and cryptocurrency transfers — took place through this account in just 14 months.

Police officials said that six more suspects were arrested on Friday, taking the total number of arrests in the case to 13 so far. Those arrested include 66-year-old businessman Mukesh Bhatia from Prabhadevi, Mumbai, three men from Rajasthan, and one individual from Mysuru.

According to investigators, the conmen trapped the victims using a tactic known as “digital arrest” — a new form of cyber extortion where victims are psychologically confined through threats of fake legal action. The couple was terrorised for nearly 40 days, during which the fraudsters posed as officials from CBI and ED, sending them fake summons and videos that appeared to show police stations, courtrooms, and officers.

To make the act believable, some fraudsters even appeared on video calls dressed as judges and police officers, convincing the victims that they were genuinely under investigation.

Fearing prosecution, the couple eventually transferred their entire savings — ₹58.1 crore — into bank accounts provided by the accused, believing that the funds would be returned once the “investigation” concluded.

Money Routed via  Indonesia-Based Account

During interrogation, accused Mukesh Bhatia confessed that he had opened a foreign bank account in Indonesia under the name Technomist Software Pvt. Ltd. Police discovered that this account handled transactions exceeding ₹513 crore over the last 14 months.

Investigators believe these transfers were made under the instructions of Sunny Lodha (32) and his associates. Another suspect admitted to sending the defrauded money abroad through multiple agents and accounts, using cryptocurrency as part of the laundering process.

The Maharashtra Cyber Police are now probing the international links of this well-organised fraud network, which appears to span multiple countries and involve complex financial and crypto channels.