Telangana Busts ₹138 Crore China-Linked Currency Smuggling Racket, 13 Arrested

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Operation Crackdown 1.0 Yields Significant Results in Banking and Cyber Fraud Probe

In a major breakthrough, the Telangana Police have exposed a massive mule account racket, uncovering a total of approximately $19 million in illicit funds.

The Scheme Uncovered

The investigation, codenamed Operation Crackdown 1.0, led to the arrest of 13 individuals, including bank officials, who were involved in facilitating transactions through these fake accounts.

How it Worked

Preliminary findings indicate that the suspects operated a complex network of mule accounts, routing nearly $2.3 million through virtual accounts and $12.8 million through traditional bank accounts.

According to the police commissioner, “The scheme relied on unsuspecting individuals, mostly from India, who were lured into opening accounts with promises of commissions. These individuals would then hand over their debit cards and banking credentials, allowing the perpetrators to siphon off funds.”

The Mastermind Behind the Operation

The mastermind behind the operation, identified as Bandari Sairam, allegedly oversaw the creation and management of these fake accounts.

Those Arrested

Bandari Sairam (30)
Anumandla Ranjith (36)
Aligeti Mallesham (37)
Boga Rakesh (35)
Bandi Pranay (25)
Bhuvanagiri Kalyan (52)
Ayesha Begum (30)
Vibhudi Ramkumar (37)
Natarla Srinivas (39)
Karre Raju (35)
Kalleda Mahender (36)
Kondra Narahari (37)
Kalleda Rajesh (27)

Further Action

The police commissioner has urged citizens to report any suspicious financial activity to the authorities, emphasizing the importance of vigilance in preventing such scams.

Further investigation is ongoing, and the Central Bureau of Investigation (CBI) and other agencies are working to bring all accused to justice.