Police bust Rs 150 crore laundering racket

NT Correspondent
Bengaluru

City Police have arrested four persons allegedly involved in a massive money laundering racket linked to over 100 cybercrime cases across India. The gang allegedly facilitated the transfer of illicit funds through mule accounts, laundering more than Rs 150 crore by creating shell companies and renting out these accounts to cybercriminals.

The accused have been identified as N Lakshmish (33), H Prakash (43), Sunil Kumar (45), and Putta swamyya (54), all from Bengaluru and Ramanagara district.

According to Commissioner Seemanth Kumar Singh, Prakash and Sunil Kumar had previously been arrested in a related fraud case. Inspector Umesh Kumar explained that the gang lured unsuspecting individuals with promises of employment or cash, collecting their KYC documents to register shell firms.

They opened hundreds of current accounts in the names of these companies, each bundled with SIM cards, cheque books, passbooks, and internet banking access. These packages were then leased to cyber- criminals, providing what police called a “banking service for criminals.

The gang reportedly received 20–30 percent commission from each fraudulent transaction.

Police seized one lap-top, four mobile phones, cheque books from multiple banks, and documents linked to the shell companies. So far, 357 mule accounts have been identified as part of the ongoing investigation, with more expected to emerge.