Cybercrime Arrest: Mule Account Supplier In Rs 4.8 Million "Navuma 915 Insights Stocks" Trading Scam
Hyderabad Cybercrime Police have arrested Kandukuru Sulthan Ahmad Khan (28), a resident of Kadiri in Andhra Pradesh, for his role as a mule account supplier in a large-scale online investment fraud.
The arrest followed a complaint from a Kalyan Nagar resident who was lured via a WhatsApp group named “Navuma 915 Insights Stocks” to invest Rs 2.471 million in a fake trading app. Although the app displayed a return of Rs 4.060 million, the victim was denied withdrawal and pressured to pay an additional Rs 2.3 million.
Investigators traced the transactions to a Karur Vysya Bank account under the name “SULTAN IMPORTS & EXPORTS.” Khan allegedly supplied mule accounts through a Telegram group called “Pandapay Official Channel” and earned commissions for facilitating fraudulent transfers. He also received $2,100 in USDT, which was converted and deposited into his DBS bank account.
Authorities revealed that Khan opened multiple bank accounts for scam syndicates and is linked to fraud totaling Rs 30 million over just three days. To date, 15 cyber fraud cases have been registered against him across Telangana, Maharashtra, Delhi, Karnataka, and Tamil Nadu.
In early October, Chennai Police’s cybercrime wing arrested two suspects for providing mule accounts in the ₹24.9 million "HEM-securities" trading scam.
BrokersView Reminds You
Online investment scams often rely on WhatsApp and Telegram groups to build false credibility and pressure victims into repeated payments. Mule accounts—bank accounts used to launder or reroute stolen funds—are a key component of these operations.
If a trading app promises high returns but restricts withdrawals or demands additional deposits, it's a scam. Always verify the legitimacy of trading platforms, especially those promoted via social media or messaging apps.
If you encounter suspicious investment offers, report them to BrokersView to help expose fraud and protect others from falling victim.
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