₹3.20 crore investment scam uncovered: Hulimavu police bust massive cyber fraud network linked to Dubai

Bengaluru’s Hulimavu police arrest 12 accused in a large-scale investment fraud case involving fake apps, mule bank accounts, and international links, with money trails running into crores across India.

Bengaluru’s Hulimavu police have uncovered a massive cyber fraud racket involved in large-scale investment scams, following a complaint related to cheating worth ₹3.20 crore. What initially appeared to be a single case turned into the exposure of an organised national and international fraud network.

After registering the case and starting the investigation, police found that the accused were luring victims through WhatsApp and Telegram links. Once victims clicked the links, they were made to install an application called “Neo System.” The accused promised very high returns on investments and convinced people to transfer money into different bank accounts.

Victims were shown both their invested amount and fake profits on the app. However, when they attempted to withdraw the money, the fraud came to light. The complainants then called the cybercrime helpline 1930, following which a case was registered at Hulimavu police station.

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During the investigation, suspicious bank accounts were frozen. Police discovered that the cheated money had been routed through the Neo System app and an online gaming app. Both platforms were found to be operating using mule bank accounts. A second case was registered as the probe deepened.

Initially, police arrested two accused involved in arranging mule bank accounts, Mohammad Huzaifa and his mother Sabana, residents of Bengaluru.

 From them, officers seized 23 mobile phones, one laptop, 205 debit cards, and cheque books, which were allegedly being prepared for shipment to Dubai.

Further questioning led police to a call centre operating from Old Rajendra Nagar in Delhi. From the Delhi location, the accused were calling people and sending them fraudulent investment links. Police seized 38 debit cards, 12 SIM cards, and 35 mobile phones from there.

The investigation revealed that the gang used around 4,500 fake mule bank accounts to cheat people across several states. Through these accounts, over ₹75 crore is believed to have been transferred nationwide.

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Police also identified the mastermind as Prem Nathaneja, who is allegedly operating from Dubai and is currently absconding. Another twist emerged when an account frozen through the NCRP platform belonged to a person who claimed he had legally won money. Investigation revealed his winnings came from a gaming app called “Swamiji.com,” confirming its involvement in the scam.

In total, police arrested 12 accused: Huzaifa, Sabana, Vishwaraj, Kushal, Pradeep, Ajith, Ajay, Abhishek, Akash, Satyam, Peetambar, and Ankit.

Seizures include 58 mobile phones, 242 debit cards, seven laptops, 530 grams of gold, ₹4.89 lakh in cash, 21 bank passbooks, 33 cheque books, nine luxury watches including Rolex and RADO, a digital payment ring, a cryptocurrency ledger, and two Vertu phones worth around ₹20 lakh.

Police have frozen multiple accounts and continue further investigation into the international network.