Karimnagar: Investigations into a Rs 138 crore mule account racket have uncovered a coordinated operation involving fake business fronts, remote OTP interception and internal verification by international handlers, the Karimnagar Commissionerate police said after arresting 13 more persons.
Police said the syndicate created shell businesses to open corporate bank accounts and bypass verification protocols. Temporary shops with signboards and interiors were set up to satisfy geo-tagging and location checks. Multiple entities were registered at the same address within days, raising suspicion during scrutiny.
Officials said a key local coordinator was recently taken to Goa by overseas handlers and held for nearly four days for verification. He was questioned to rule out the possibility of being an informant before transactions resumed through his network. Police suspect he earned over Rs 1 crore in commissions over the past 18 months.
According to investigators, account holders were required to hand over newly issued SIM cards along with Aadhaar details. The SIMs were kept active to enable remote access to One-Time Passwords, allowing funds to be routed rapidly across 30 or more accounts and moved into hawala channels or international wallets before detection.
Police said the operation depended on recruiting locals who were paid around Rs 50,000 upfront and promised a 2 per cent share of transactions. While the organisers and coordinators accrued significant gains, account holders face legal action for their role in the money laundering network.
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