An investigation into a fraud in which a Hyderabad resident lost ₹7.93 lakh after being promised ₹45 lakh for an old ₹1 currency note has led police to a suspected mule account network linked to nearly 450 cases across India, The Hindu reported on 12 October 2026.
Quick Facts
| Arrested | Gumma Ramesh, 39, and Mudale Anil, 19, both of Ramanthapur, on 8 October |
| Linked cases | Nearly 450 cybercrime cases across India |
| Estimated transactions | ₹60 crore to ₹70 crore |
| Original victim’s loss | ₹7,93,351 |
| Complaint received | 25 September |
| Agency | Hyderabad Cyber Crime Police |
How It Began
A man was approached on Facebook by fraudsters offering ₹45 lakh for an old ₹1 note and was induced to transfer ₹7,93,351. They did not pay. The police registered a case under the Information Technology Act and the Bharatiya Nyaya Sanhita and traced the money, which led them to the mule accounts.
The Network, According to Police
Ramesh, who earlier lived in Bidar in Karnataka and moved to Hyderabad for financial reasons, worked as a driver with a rented car and developed contacts with cyber fraudsters. With another accused who is absconding, he approached students, delivery partners and other residents of Ramanthapur and nearby areas, offering commissions for access to their bank accounts and SIM cards.
The accused allegedly collected bank passbooks, ATM and debit cards, internet banking credentials and SIM cards from about 60 to 70 people and couriered them to associates in Haryana for use in cyber frauds. Anil allegedly opened three savings accounts with different banks and handed their credentials to Ramesh for a commission.
The Arrests
A team led by Inspector M. Surendar arrested Ramesh and Anil at Ramanthapur, in Amberpet, around noon on 8 October and seized two mobile phones. Police say both knew the accounts and SIM cards would be used for cyber fraud but kept supplying them for financial gain. The investigation into the wider network, and the absconding accused, continues.
The Warning
The case shows how ordinary account holders who hand over their bank details for a commission can become part of a fraud chain. The Hindu’s report did not give the outcome of any court proceedings against the accused.
Featured image: Hyderabad’s Financial District, August 2026 (file photo). Photo by iMahesh, licensed under CC BY-SA 4.0, via Wikimedia Commons.