Bellary Police have arrested a key suspect involved in defrauding Hindustan Metal Private Limited of ₹2.11 crore. The operation, led by CEN Division DSP Santosh Chauhan, resulted in the arrest of Ajay Kumar Jaiswal from Sidi district, Madhya Pradesh, who was part of a larger fraud network.
Authorities have seized ₹1.21 crore from Jaiswal, with an additional ₹27.97 lakh frozen in bank accounts. A mobile phone used in the crime has also been confiscated, according to District Superintendent of Police Dr. Sobharani V.J., who spoke at a press briefing.
Ajay Kumar, a data operator, acted on orders from a Delhi-based kingpin, transferring and withdrawing funds as instructed. The police revealed that money had been transferred across 18 different accounts. The investigation to apprehend the kingpin is ongoing.
The fraud was carried out using a fake email, targeting Hindustan Metal Private Limited. Jaiswal impersonated Agarwal Coal Corporation in a phishing email, falsely claiming that their bank account had changed. Falling for the scam, Hindustan Metal transferred ₹2.11 crore to Jaiswal’s account. The deception was uncovered after Agarwal Coal Corporation informed Hindustan Metal that they had already refunded the amount, prompting the company to alert the Bellary Cyber Police on September 3.
A special police team tracked down Jaiswal in Madhya Pradesh, recovering the stolen funds and freezing additional amounts transferred to other accounts. The case highlights growing concerns over cyber fraud in India, with authorities urging businesses to exercise greater caution in financial transactions.