South India’s fake job syndicate: How thousands were duped of crores via part-time work scams
The investigation, which resulted in raids, has uprooted a deep and robust circuit who have fraudulently collected crores from candidates
By - Newsmeter Network
Representational Image
Hyderabad: The sleuths of the Central Bureau of Investigation (CBI) carried out raids across Karnataka, Tamil Nadu and Kerala and busted one of the biggest networks that have been cheating lakhs of unemployed Indians under the pretext of part-time job offers.
The investigation, which resulted in raids, has uprooted a deep and robust circuit who have fraudulently collected crores from candidates.
Based on specific intelligence, CBI carried out raids in multiple locations across Karnataka, Tamil Nadu and Kerala in connection with a case related to a large-scale organised cyber-enabled part-time job and investment fraud.
Cheated out of crores of rupees
During the operation, three people have been arrested.
The CBI registered this case on the inputs given by I4C, MHA. In this case, thousands of innocent citizens across India were allegedly cheated out of crores of rupees through deceptive online schemes.
The fraudulent network, comprising both Indian and foreign nationals, exploited social media platforms, mobile applications and encrypted messaging services to lure victims with false promises of high returns from online investment and part-time job opportunities.
Modus operandi
The investigation revealed that the accused persons and their associates created a complex network of shell companies across India, primarily in Bangalore, to channel and launder the proceeds of crime.
Several unsuspecting individuals were deceitfully appointed as directors in these companies under the guise of part-time employment in e-commerce or fintech operations.
Fake profiles and multiple shell companies
The fraudsters, including foreign operatives, devised a sophisticated modus operandi involving the use of digital advertisements, bulk SMS campaigns and SIM Box communication systems to promote fraudulent schemes.
They recruited individuals through Telegram, WhatsApp and other social media platforms, collecting KYC documents to create fake profiles and companies. Using forged credentials and fraudulently obtained digital signatures, they incorporated multiple shell companies and opened numerous bank accounts in their names to collect funds from victims.
Crime earnings converted to crypto and gold
The investigation has further revealed that the collected funds were layered and diverted through various payment gateways, UPI platforms and cryptocurrency exchanges to obscure the trail of money.
Large portions of the proceeds were converted into cryptocurrency, gold or remitted abroad through clandestine channels. It has also been established that several Indian nationals were operating under the direction of foreign-controlled entities involved in illegal online gambling and investment fraud operations. Substantial financial flows were traced to accounts associated with these entities, indicating an extensive transnational cyber fraud network.
The CBI continues to pursue further leads to identify and apprehend other accused persons, including foreign nationals and to trace and freeze the proceeds of crime routed through domestic and international financial systems.
