Pune News: Two Arrested For ₹1.13 Crore Fraud Using ‘Mule’ Accounts in Pimpri-Chinchwad
Pune News: Two Arrested For ₹1.13 Crore Fraud Using ‘Mule’ Accounts in Pimpri-Chinchwad
Pimpri-Chinchwad: The Cyber Police have arrested two individuals for allegedly defrauding a person of ₹1.13 crore by luring them into investing in forex trading. One of the arrested individuals was responsible for handling ‘mule’ accounts used for financial fraud.
The accused have been identified as Mitesh Rajubhai Vhora (34) and Kapin Ajitkumar Mehta (41), both residents of Ahmedabad.
According to police reports, Mitesh procured mule accounts in Gujarat and supplied them to Kapin, who used these accounts to receive fraudulent funds. In January 2025, a complaint was filed at the Pimpri-Chinchwad Cyber Police Station regarding a fraud amounting to ₹1.12 crore. The complainant was convinced to invest in forex trading with promises of high returns. Initially, the accused received ₹1.30 crore from the victim and returned a small amount to build trust before absconding with the remaining ₹1.12 crore.
Following the complaint, the Cyber Police launched an investigation and traced the accused to Ahmedabad, Gujarat. A special police team apprehended Mitesh, who was withdrawing cash from the mule accounts. Subsequently, Kapin was arrested from Mira-Bhayandar. Authorities believe that more individuals may be involved in the fraud.
What is a ‘Mule’ Account?
A ‘mule’ account is a bank account used by cybercriminals to receive and transfer illicit funds. These accounts are often opened in the names of unsuspecting individuals, such as daily wage workers, who are paid a small sum in exchange for providing their documents. Once created, these accounts are controlled and misused by fraudsters to launder stolen money.
