Four Held in Varanasi as Police Trace ₹116.86-Crore Mule-Account Network

VARANASI: The district cyber cell and Chetganj police have arrested four men in an investigation into a network of bank accounts allegedly used to move proceeds from online fraud. Police say 41 accounts linked during the probe appear in 143 complaints on the National Cyber Crime Reporting Portal and show a combined transaction footprint of about ₹116.86 crore.

Investigators identified Nitish Kumar Pandey of Sasaram in Bihar’s Rohtas district as the alleged organiser and arrested three others with him. According to police, the group induced people to open firms and bank accounts in return for commissions, then obtained control of account credentials. The accused have not been convicted, and the police version will have to be tested in court.

The ₹116.86-crore figure needs careful interpretation. It represents the scale of transactions or fraud-linked movement identified by police, not necessarily cash recovered from the accused or the confirmed loss in one case. Cybercrime accounts are often used in layers, with the same money transferred rapidly through several beneficiaries to obscure its origin.

Police allege that funds from investment scams, online betting applications and other cyber fraud were routed through the accounts. The NCRP complaint matches give investigators a way to connect victims in different states with a common financial trail. Bank statements, device records, company-registration documents and communication between account holders will be central evidence.

A ‘mule account’ belongs to a person or firm that receives and forwards suspicious money for someone else. Some holders knowingly rent accounts; others are misled by fake jobs, loan offers or promises of easy commission. Either way, sharing a debit card, SIM, banking password or corporate current account can expose the holder to frozen funds and criminal investigation.

The case also demonstrates why fraud networks seek newly created businesses. A current account with higher transaction limits can move larger sums without triggering the same immediate suspicion as a student’s savings account. Fake invoices and multiple proprietorships may add a layer of apparent commercial activity.

Banks and investigators can disrupt the model by spotting rapid credits followed by near-immediate dispersal, repeated logins from unrelated devices and accounts whose turnover has no connection to their declared business. Customers should report any request to open an account for someone else, even if no money has yet moved.

The four men are now in the criminal process, where the prosecution must prove individual roles and knowledge. Further arrests or a larger confirmed loss may emerge as the 143 complaints are examined. Until then, Dalimss News is reporting the operation as a police allegation, not a finding of guilt.