Delhi Police's IFSO unit raided a network of cyber fraud on Thursday, arresting seven suspects who allegedly siphoned Rs 3.93 crore from a single ICICI account. Prince Bansal, the 28‑year‑old NBFC manager who filed the complaint, said the 149 unauthorized transfers began at 11 a.m. on Oct. 5, leaving his savings wiped out. The arrests followed a week‑long probe that traced the money through a web of mule accounts and hawala channels.
At the center of the plot is 29‑year‑old Brij Lal of Phalodi, Rajasthan, who had already been wanted for a Rs 95 lakh cyber fraud. He allegedly used the U Home foreign‑exchange app to move cash withdrawn from mule accounts into USDT, then routed it through a hawala operator to a contact in Khanna, Punjab. In interrogation he revealed a mobile number with the +852 code linked to a foreign cyber network.
The investigation uncovered six other Rajasthan residents—Piyush Talaniya, Vipin Chanwariya, Sunil, Vikram, Rakesh Bahadu and Hemant Singh—who each held or accessed mule accounts. Talaniya withdrew Rs 9.50 lakh, Chanwariya Rs 7 lakh, and the others helped transfer the proceeds, but the full trail remains murky. Police recovered 45 cheque books, 25 passbooks, 45 ATM cards and 13 mobile phones, which are now under forensic examination.
The IFSO unit said it is probing links to U Home and the hawala network to determine whether the recovered cash was funneled into foreign crypto exchanges. The court is set to review the case under Section 84 of the Bharatiya Nagarik Suraksha Sanhita, while investigators continue to map the money trail. A verdict is expected in the next court session slated for November 15.