The Uttar Pradesh Police Special Task Force (STF) on Friday dismantled a sophisticated Rs 200 crore cyber fraud network that had been operating across seven states for over two years. In a coordinated operation, 47 accused were arrested from locations in Noida, Agra, Meerut, Patna, and Bengaluru. The ring used fake investment apps, deepfake videos of celebrities, and WhatsApp groups to lure victims into fraudulent schemes promising daily returns of 5-10%.
STF Inspector General Amitabh Yash said the fraudsters had created over 120 shell companies and used a network of money mules to launder proceeds through cryptocurrency exchanges. Over 12,000 victims from 18 states filed complaints, with individual losses ranging from Rs 25,000 to Rs 1.5 crore. Authorities recovered Rs 18 crore in cash, 340 mobile phones, 80 laptops, and 45 SIM boxes used to route calls through VoIP networks to evade detection.