Mumbai Police Bust Mule Account Racket; 7 Arrested, ₹10 Lakh Cash Seized

Mumbai Police arrested seven individuals linked to a cyber fraud syndicate that used fake mule accounts to withdraw stolen money within 15 minutes of transactions.

The syndicate used four shell companies to open current accounts at Indian Overseas Bank branches in Dadar, Mahim, Borivali, and Mira Road-Bhayander, which received fraud proceeds.

Police intercepted three accused—Salman Habib Pathan (34), Sajid Nisar Ahmed Kothawala (45), and Chirag Ketan Toprani (31)—at the Borivali branch on July 29 after they withdrew ₹10 lakh in cash.

Searches in Mira Road and Bhayander led to the arrest of four more associates: Syed Wajahat Wahiuddin, Rakesh Ramashankar Mishra, Rakshit K. Rajendra Hegde, and Aryan Ritesh Thakkar.

Seized items included ₹10 lakh cash, over 30 rubber stamps, a currency-counting machine, digital tablets, cheque books, smartphones, and activated SIM cards.