A WhatsApp message with ‘Hello, this is Divya speaking’ allegedly set off an investigation into one of Madhya Pradesh’s biggest cyber fraud cases. The case involves a Rs. 21.06-crore cryptocurrency scam. This led to the arrest of a BJP zila panchayat member from Shajapur.
According to investigators, a chartered accountant received the message from a woman who identified herself as Divya. She allegedly introduced the victim to a cryptocurrency trading scheme and promised high returns. The victim was subsequently persuaded to transfer money as part of the investment operation.
Crores Moved Through 76 Bank Accounts
The investigation uncovered a complex money trail. Police traced the suspected proceeds through 106 transactions involving 76 bank accounts. This highlights a structured layering operation designed to move and conceal the money.
In the end, Rs. 50 lakh of the supposed scam proceeds were found to have been transferred to a bank account controlled by Jagdish Kumar Malviya, who is a BJP leader and a district panchayat member of Shajapur.
According to police, Malviya permitted the use of an organization’s bank account to move the money earned through cyber fraud. As payment for this favor, he got a 2% commission.
His arrest has become a very important clue for the investigators.
Wider Money-Laundering Network
Police allege that Malviya allowed an organisation’s bank account to be used for routing money generated through the cyber fraud. In return, he allegedly received a 2% commission. The case highlights how cyber fraud operations increasingly rely on multiple bank accounts to move stolen funds before investigators can trace their origin. This fraud case involves the transfer of money worth over Rs. 21 crore through multiple bank accounts.
The investigation is now focusing on finding the activity involving the other accounts and individuals.. The aim is to identify the perpetrators of the fake cryptocurrency investment scam.
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