Cyber Financial Fraud: CBI Executes Multi-State Raids, Makes Key Arrest in Mumbai

The Central Bureau of Investigation ( CBI ) conducted coordinated searches across multiple states as part of its ongoing Operation Chakra-V against Cyber Financial Fraud. The operation targeted an organized cyber investment fraud network operating through fake mobile applications and WhatsApp groups.

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The investigation Bureau carried out extensive raids at 10 locations across Delhi, Hisar, Lucknow, Mumbai, Pune, and Nashik, leading to the arrest of one accused from Kalyan, Mumbai. The individual was allegedly involved in supplying pre-activated SIM cards and mule bank accounts, which were instrumental in facilitating large-scale fraud.

According to officials, the syndicate deceived victims by offering shares of reputed listed companies at discounted prices, luring them to invest through fraudulent platforms. Once the investments were made, the funds were siphoned off, causing significant financial losses to unsuspecting individuals.

During the raids, incriminating digital and documentary evidence was found, illuminating the accused's sophisticated methods for misleading investors and transferring illegal profits.

“Operation Chakra-V reflects the CBI’s continued commitment to unearthing and dismantling cybercrime syndicates and their supporting infrastructure,” the agency stated.

The investigation is ongoing, and further arrests and revelations are expected as the probe deepens.

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