The former division cyber crime police busted online fraudsters and arrested four people, including a branch manager of a private bank in Rajkot, Gujarat, for accessing the website of a payment gateway company and withdrawing Rs 12.5 crore within two days.
CRED, having their corporate nodal account at AXIS Bank Indiranagar branch in Bengaluru, filed a complaint that they lost Rs 12.5 crore from their accounts when the accused accessed their accounts using fake CIB request forms with forged signatures of directors.
One of the main accused is Vaibhav Pitadia, who was working in the corporate wing of Axis Bank in Rajkot. Based on his information, the police team arrested Shailesh from Rajkot, Nehaben and Shubham from Surat.
In the investigation, Vaibhav used his associates to create multiple mule accounts to transfer money online which were later withdrawn and used personally.
Authorities have seized the bank accounts and efforts are underway to recover the funds.
published – December 21, 2024 at 10:12 am IST