Mangaluru: Mangaluru police said the fraud network cheated Indian investors to the tune of Rs 60 lakh to Rs 1 crore every day. The commissioner decoded the modus operandi and said the fraudsters operated in two groups—one from Nepal and another from Cambodia, Dubai and other countries.The Nepal group recruited bank account holders and agents through social media platforms and routed the funds collected from victims through multiple bank accounts and converted into USDT cryptocurrency for immediate transfer and avoid detection.Another group functioned from Cambodia, Dubai, and other countries, from where the main accused contacted Indian investors using WhatsApp, Instagram, Telegram, and Facebook through unknown numbers.Police claim that Indians working overseas were also exploited, and forced to speak to potential investors in their native Indian languages, luring them with promises of exceptionally high returns.They advertised for corporate and current bank accounts, USDT–INR exchange operators, management operators, and OTP workers.Those who responded were promised 5–10% commission, along with flight tickets, cab facilities, and hotel or lodge accommodation, and were lured to locations such as Dubai and Nepal.The sim cards of account holders were then used in phones controlled by the fraudsters, enabling them to access net banking and move funds. The money was converted into USDT and transferred overseas daily.
