Cyber Cell Busts Nationwide Hawala Scam

Mumbai police's regional cyber cell arrested 10 individuals across India for their involvement in five financial scam cases causing a loss of Rs 1.47 crore. The suspects, including notable names, enticed victims into investing in fake stock markets, laundering the money through hawala and fraudulent bank accounts.

Mumbai police's regional cyber cell successfully dismantled a nationwide hawala scam, arresting 10 individuals from across the country. The operation uncovered a network involved in five separate cases resulting in cumulative losses of Rs 1.47 crore.

Authorities revealed that victims were duped into investing in nonexistent stock markets through a bogus fintech company. The swindled money was then funneled through hawala transactions and a maze of fraudulently established bank accounts.

Among those apprehended were Jayesh Unni, Arbaz Samir Khan, Shailesh Purshottamdas Patel, and other key figures from various regions, prompting ongoing investigations into this sophisticated cyber racket.

(With inputs from agencies.)