New Delhi [India], December 14 (ANI): The Central Bureau of Investigation (CBI) has filed a chargesheet against 17 accused persons, including four foreign nationals and 58 companies, after uncovering an extensive, well-organised transnational cyber fraud network operating across multiple States in India.
In October 2025, the three main Indian associates had been arrested. The investigation has revealed that a single coordinated syndicate created an extensive digital and financial infrastructure to defraud thousands of unsuspecting citizens through misleading loan apps, fake investment schemes, Ponzi and MLM models, bogus part-time job offers, and fraudulent online gaming platforms, according to an official statement from the Central agency.
The case was registered on the basis of inputs received from I4C, the Ministry of Home Affairs, which indicated that large numbers of citizens were being cheated through online investment and employment schemes. Although initially appearing as isolated complaints, detailed analysis by the CBI revealed striking similarities in applications used, fund-flow patterns, payment gateways, and digital footprints, pointing to a common, organised conspiracy.
Investigation revealed that the cyber criminals adopted a highly layered and technology-driven modus operandi, involving the use of Google advertisements, bulk SMS campaigns, SIM-box based messaging systems, cloud infrastructure, fintech platforms and multiple mule bank accounts. Each stage of the operation–from luring victims to the collection and movement of funds–was deliberately structured to conceal the identities of the actual controllers and evade detection by law enforcement agencies.
CBI’s investigation exposed the backbone of the fraud network in the form of 111 shell companies, incorporated using dummy directors, forged or misleading documents, fake addresses and false statements of business objectives.
These shell entities were used to open bank accounts and merchant accounts with various payment gateways, enabling rapid layering and diversion of proceeds of crime. Analysis of hundreds of bank accounts revealed that more than Rs 1,000 crore was routed through these accounts, with one account alone receiving funds exceeding Rs 152 crore within a short span.
Searches were conducted at 27 locations across Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Jharkhand and Haryana. During these searches, the CBI seized digital devices, documents, and financial records, which were then subjected to detailed forensic examination. The analysis revealed extensive communication links and operational control by Foreign nationals directing the fraud network from abroad.
Significantly, a UPI ID linked to the bank accounts of two Indian accused was found to be active in a Foreign location as late as August 2025, conclusively establishing continued foreign control and real-time operational oversight of the fraud infrastructure from outside India.
The investigation established that, from 2020 onwards, shell companies were incorporated in India at the instance of Foreign handlers, namely Zou Yi, Huan Liu, Weijian Liu and Guanhua Wang.
Their Indian associates procured identity documents from unsuspecting individuals and used them to incorporate companies and open bank accounts. These entities were then systematically used to channel proceeds from cyber fraud, which were layered across multiple accounts and platforms to obscure the money trail and the ultimate beneficiaries.
CBI has charge-sheeted the four Foreign masterminds, their Indian associates, and 58 companies involved in the conspiracy. Prosecution has been launched against the accused persons under Criminal Conspiracy, Forgery, use of Forged Documents and the Banning of Unregulated Deposit Schemes Act, 2019.
This case forms part of CBI’s sustained action under Operation CHAKRA-V against organised and transnational cyber-enabled financial crimes. (ANI)
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