Mumbai Crime Branch Busts Shell Company Racket; 2 Arrested For Opening 55 Bank Accounts To Route Cyber Fraud Funds
· Free Press Journal
Mumbai, Feb 26: Mumbai Crime Branch Unit 3 has arrested two persons for allegedly opening 55 bank accounts in the names of multiple shell companies to receive and divert proceeds of cyber fraud amounting to several crores of rupees.
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The arrested accused have been identified as Shakib Nawaz Shorat Ali Khan (46), a resident of Madanpura, Nagpada, and Zameer Ahmed Mohammad Javed Ansari (42), a resident of Bhiwandi in Thane district.
Raid in south Mumbai
The action was taken in connection with a registered FIR after Crime Branch Unit-3, Mumbai, received credible information that certain individuals had formed multiple companies and opened bank accounts in their names to channel funds obtained through cyber fraud.
Acting on the tip-off, police conducted a raid on February 25, 2026, at an office located in the Masjid Bunder, Mandvi area of south Mumbai. During the operation, officers found that the accused, in conspiracy with other wanted persons, had established nine companies using Aadhaar and PAN card details of various individuals.
They subsequently opened 55 bank accounts in the names of these companies and used them to receive and transfer funds obtained through online fraud.
Electronic devices and cash seized
During the raid, police seized 10 mobile handsets, three laptops, two pen drives, cheque books of various banks, and cash amounting to ₹1,03,880. The total value of the seized property is ₹2,35,880.
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Mumbai Cyber Fraud: 78-Year-Old Mulund Resident Duped Of ₹1.16 Crore In 'Digital Arrest' Scam; Case RegisteredPreliminary investigation has revealed that bank accounts operated by the accused were used to facilitate financial transactions involving crores of rupees obtained through cyber fraud.
Police suspect the involvement of more individuals in the racket and are conducting further investigation to identify other accused and trace the money trail.
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