This organized gang utilized mule accounts and ATMs, defrauding Rs. 2.65 crore across 94 cases in 10 states

NEW DELHI: Odisha police‘s crime branch has arrested three individuals, involving two Nigerian nationals and one Indian, in New Delhi for investment fraud. The suspects, Christoper Chizobam, Nnamdi Stanley Mbamalu, both Nigerians, and Arti Gautam from New Delhi, were part of an organized cybercriminal gang. This gang operated under the pretext of investment in the saffron business, promising high returns.
Arti Gautam opened multiple bank accounts in her own name and others, which she then shared with Christoper.Christoper used these accounts to transfer money obtained fraudulently. His role included collecting mule accounts to facilitate the transfer of the stolen funds. Meanwhile, Nnamdi Mbamalu withdrew cash from ATMs and handed it over to another Nigerian.
The criminals ensnared a Bhubaneswar resident, enticing him to join a project for supplying saffron. They introduced a supplier who posed as a regional manager at organics merchandise, acting as a marketing agent for saffron farmers in India. Initially, they provided 10 kg of saffron for testing, eventually increasing the amount to 110 kg based on a fake purchase order. The victim transferred a total of Rs 2.65 crore through multiple transactions to various Indian bank accounts.
During the investigation, the Crime Branch discovered that this gang of cybercriminals has been involved in 94 cases across 10 different states in India. The extent of their fraudulent activities revealed a widespread network of deceit underpinned by sophisticated methods to carry out their schemes.
The Crime Branch said in a statement on Saturday, “The organised gang of cyber criminals was operating in the guise of investment in saffron business promising high returns.”