Pathology lab used as front for mule account flagged in 10 cyber frauds that saw transactions of Rs 1.15 crore

As investigators started probing the money trail, they found that of the total amount, Rs 8.5 lakh had landed in a bank account in the name of a pathology laboratory in a residential locality in Pimpri Chinchwad. KYC details for the said account were provided by a man identified as Prathmesh Shivaji Bhuse (23), a resident of Lohegaon in Pune. Technical analysis of his activities led police to the second suspect Sachin More (34), a resident of Dighi. The two were subsequently arrested and have been remanded to police custody.

“We found out that Bhuse has partially completed a course for pathology lab assistant. He had started working for a pathology laboratory where he had partnered with another person. However, that laboratory closed down soon. Our probe suggests that the Bhuse was tapped by More, who acted as a mule account handler in this case. More asked Bhuse to open a new current account in the name of the pathology laboratory. This account was then used to receive money from cyber frauds.” said an officer part of the probe.

“The account in the name of the defunct pathology lab witnessed transactions of Rs 1.15 crore within a span of few weeks and has been flagged in at least 10 Cyber scams across the country. Using the pathology laboratory as a front for a mule account is a calculated tactic as the current account in the name of such an entity does not raise immediate red flags. It is being increasingly observed that accounts opened in the name of already existing legitimate businesses are being used as fronts for mule accounts. It happens especially after these entities face financial losses.” said the investigator.

This action was carried out under the guidance of Police Commissioner Vinoykumar Choubey, Joint Commissioner Shashikant Mahavarkar, Additional Commissioner Sarang Avhad, DCP Shivaji Pawar and ACP Vishal Hire. The investigation team consisted of Police Inspector Ravikiran Nale, Assistant Inspector Pravin Swami and Sub Inspectors Vaibhav Patil, Sagar Poman, Rohit Dolas, Prakash Katkade and Vidya Patil along with constabulary staff.

The Pune and Pimpri Chinchwad police have witnessed a worrying surge in online share trading fraud cases over the past two years.

Fraudsters employ a variety of baits, including trading tips, virtual lectures, mobile applications, and enticing promises of exorbitant returns. Officials have also expressed concerns over citizens continuing to fall prey to these scams in spite of several advisories, sensitisation campaigns and wide media coverage in this regard.