₹100 crore rental account scam busted; Mastermind arrested, linked to global fraud rings

The District Superintendent of Police has uncovered a ₹100 crore fraud racket, leading to the arrest of mastermind Saidul. The accused allegedly rented out bank accounts using common people's documents, which were then misused for large-scale financial fraud. He also facilitated the creation of SIM cards with these documents, enabling fraudulent transactions. Authorities have linked his network to 340 online fraud complaints across India, with eight cases specifically registered at Phansidewa police station.

Investigators revealed that Saidul operated from Phansidewa and had connections with fraud syndicates in Gujarat, Mumbai, and Delhi. His network extended internationally, with transactions traced to Dubai, Australia, and New Zealand. Following his arrest nine months ago, new leads prompted authorities to take him into remand for further questioning. A five-member SIT, led by the Additional SP and SDPO, has been formed to probe the case. Officials believe that rental accounts were used to bypass financial regulations, launder money, and carry out large-scale cyber fraud.

The police are expanding their investigation to identify all individuals involved and recover financial records linked to the scam. Authorities are examining the extent of Saidul’s operations and how stolen identity documents were used systematically. Law enforcement agencies are coordinating efforts to track potential accomplices and ensure stronger security measures to prevent similar fraud in the future.