Rs 500 crore cyber fraud trail: Mumbai Police examine mule accounts linked to betting network

MUMBAI: Mumbai Police have launched a parallel investigation into the alleged network of mule bank accounts being used to route funds generated through online gaming, betting and cyber fraud activities, with investigators examining the financial trail and the alleged role of individuals named in a recent complaint, including Samundar Singh Rathod and Mukesh Jain.

The parallel probe comes amid an ongoing Enforcement Directorate (ED) investigation into the alleged online betting network linked to All Panel Exchange (APX) and MGM91.

The ED has been examining the use of mule bank accounts, shell companies and payment intermediaries to collect and layer proceeds generated through online betting and cyber fraud.

Sources said Mumbai police have began investigation as many of these mule accounts identified by the ED are common in their investigations.

The city crime branch has busted a major international cyber fraud and money laundering syndicate, arresting 12 members who were allegedly operating from a sea-facing villa in Calangute, Goa.