Hyderabad: The Cyber Crime Police on Saturday uncovered a massive fraud following a two months undercover operation. They apprehended the accused Shravan Kumar, who made huge cash transactions of Rs 500 crore in just two months.

During the police investigation, it was revealed that Shravan Kumar, a native of Vijayawada, had created 500 mule accounts and transferred cash worth over Rs 500 crore through them. Officials said that the money received through cyber links was transferred to these accounts and later sent to some other fake companies.

The police found that Shravan Kumar had set up separate mule accounts for six companies for money transactions. The investigation revealed that the entire system was created so that the money received was circulated through different accounts and finally reached the accounts of these companies. Shravan Kumar’s affair was not limited to Telangana and Andhra Pradesh.

The police revealed that he had established contacts with cyber crime gangs across the country. He tried to hide the money by making fake online transactions through these links. In the wake of this, Hyderabad Cyber Crime Bureau officials arrested Shravan Kumar and sent him to remand. The police are expanding the investigation, suspecting that some more people may have been involved in this fraud. After arresting Shravan, several debit cards, laptops, SIM cards, and fake identity documents were seized from him.

According to the cyber crime officials, these crimes are being committed with a proper plan. They are defrauding common people by trapping them through phishing links, fake websites, and fraudulent apps. Since the defrauded money is immediately transferred to other accounts through these mule accounts, it is becoming difficult to identify them.