New Delhi:
The Central Bureau of Investigation has cracked a massive cyber fraud racket that cheated thousands of people across India through fake loan apps, false investment schemes, Ponzi and MLM traps, part-time job offers and online gaming frauds.
The CBI has filed a chargesheet against 17 accused, including four foreign nationals, and 58 companies. Three key Indian members of the gang were arrested earlier in October 2025.
The case came to light after inputs from the Ministry of Home Affairs showed that people in different states were being cheated online.
At first, the complaints looked unrelated. But a deeper probe revealed the same pattern behind them, showing that all the frauds were being run by one well-organised network.
The investigation found that the gang used online ads, bulk messages and fake mobile numbers to lure people. Once victims were trapped, their money was quietly moved through several bank accounts to hide the real beneficiaries.
CBI uncovered that the fraud network was backed by more than 100 fake companies.
These companies were opened in the names of dummy people using false addresses and forged papers. Their bank accounts were used only to move stolen money quickly from one place to another.
More than ₹1,000 crore was routed through these accounts. In one case, a single account received over ₹152 crore in a short time.
Searches were carried out at 27 places in Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Jharkhand and Haryana. During the raids, officials seized electronic devices, documents and bank records.
These clearly showed that the operation was being controlled by foreign nationals sitting outside India.
CBI found that a digital payment ID linked to two Indian accused was active abroad even in August 2025, proving that the fraud was being monitored and run from outside the country.
The probe revealed that since 2020, fake companies were set up in India on the instructions of four foreign masterminds.
Their Indian partners arranged identity documents of innocent people and used them to open companies and bank accounts. These were then used to divert the fraud money and erase its trail.
CBI has now chargesheeted the four foreign masterminds, their Indian associates and 58 companies under serious criminal laws, including conspiracy, forgery and illegal money collection.
This action is part of CBI’s ongoing drive against organised cyber crimes. The agency said it will continue to crack down on such gangs to protect citizens and keep India’s digital space safe.
