The accused was actively involved in supplying pre-activated SIM cards and mule bank accounts to cybercriminal networks, thereby enabling and sustaining their illegal operations; In a Crackdown, CBI Conducts Multi-State Searches Arrests a Mumbai Resident under Operation Chakra-V
FinTech BizNews Service
Mumbai, June 13, 2025: As part of its ongoing nationwide crackdown on cyber-enabled financial crimes under Operation Chakra-V, the Central Bureau of Investigation (CBI), has conducted extensive searches at 10 locations across Delhi, Hisar, Lucknow, Mumbai, Pune, and Nashik in connection with a cyber enabled organized investment fraud case, as per a press release issued by the CBI today.
CBI has also arrested one accused who is a resident of Kalyan, Mumbai, after his involvement was surfaced in the fraud. The accused was actively involved in supplying pre-activated SIM cards and mule bank accounts to cybercriminal networks, thereby enabling and sustaining their illegal operations. Substantial incriminating material was recovered from his possession during the searches.
The case pertains to a well-orchestrated fraud where unsuspecting individuals were cheated through a fraudulent mobile application and WhatsApp groups. The perpetrators deceitfully lured innocent investors by promising shares of reputed listed companies at discounted rates. Once the victims invested their hard-earned money, the accused misappropriated the funds, causing significant financial loss to the public.
During the coordinated searches, the CBI seized incriminating digital and documentary evidence from the premises of the accused persons, exposing the intricate modus operandi employed to dupe innocent investors.
Operation Chakra-V underscores the CBI’s unwavering commitment to dismantling cybercrime syndicates and infrastructure supporting commission of such offences."
Investigation is continuing
