Two held in online money fraud cases

Two persons have been arrested from Mumbai in connection with different cases of online money fraud, police said here on Sunday.

Last Updated: May 23, 2010, 18:49 PM IST

Chennai: Two persons have been arrested
from Mumbai in connection with different cases of online money
fraud, police said here on Sunday.

Vinayak Shivaji Khandare was arrested with the help of
Mumbai police in connection with an online fraud where more
than Rs 25 lakh was siphoned off from the bank account of
a Tiruchirappalli-based businessman last year.

As part of the investigation, Khandare was arrested early
this week and brought to Chennai today where he was lodged in
the Puzhal prison, a Crime Branch-CID release said.

Four persons -- a key accused from Hyderabad and three
`money mules` from Chennai and Bangalore -- have been arrested
in this case where the hackers managed to transfer the amount
from the victim`s bank account without his knowledge.

A mule is a person to whose account the funds are
transferred. Later, after retaining a commission of 8-10 per
cent, the mule remits the rest of the amount to other accounts
provided by the perpetrators of the crime, it said.

In a similar case, Ibrahim Ansari was arrested from
Mumbai in connection with the fraudulent transfer of over Rs
75,000 from an engineer in Madurai, the release said.

Mobile phones and bank documents were recovered from the
arrested, it said, adding both were brought to Chennai today
and lodged in prison.

PTI