Chandigarh, 05 September 2025: Haryana Police’s Cyber Unit has dealt a major blow to cyber fraudsters in Panipat district by busting a large-scale financial crime involving mule accounts and shell companies. The recent probe revealed that two fake companies were used to carry out suspicious transactions worth crores of rupees. The swift and intensive police action not only exposed this scam but also disrupted the organized network of cybercriminals behind it.
Fake Company “True Artificial Jewellers Pvt. Ltd.”
The investigation uncovered that the company “True Artificial Jewellers Private Limited” was entirely bogus. It had opened an account in Bank of India’s Panipat branch and, within just seven months, carried out transactions worth ₹51.82 crore. Shockingly, ₹51.79 crore had already been withdrawn, leaving only ₹3.13 lakh in the account. The company’s address and board of directors were also found to be fake, with no real business existing at the site. Clearly, the firm was created solely as a medium for fraud and laundering illicit funds.
Second Fake Firm “Indo Career Agency”
Another company, “Indo Career Agency,” was also exposed. Between 24 December 2024 and 27 August 2025, transactions worth ₹32.92 lakh were recorded in its account. Of this, ₹31.70 lakh had already been withdrawn, leaving only ₹1.21 lakh behind. Its address also turned out to be fake, with no actual business found at the location.
Identification of Suspects
During the probe, names of four suspects emerged: Pramod Kumar, Dharmender Kumar, Nishant, and Sunny Kumar. Police believe these accounts and companies are part of a carefully planned criminal conspiracy designed to immediately siphon off fraudulent money and escape the law.
91 Suspicious Bank Branches Identified
Significantly, Haryana Police has identified 91 bank branches across the state suspected of operating mule accounts used for large-scale fraudulent transactions. Four such branches have been found in Panipat district alone. Police have marked these branches and initiated stepwise verification, inspection, and legal action.
Raids and Ongoing Action
Special cybercrime teams are examining records of these 91 branches in depth to determine whether negligence or collusion by bank employees benefitted the fraudsters. The teams are analyzing lapses in KYC norms, procedural violations in account opening, and the role of bank staff. Continuing this operation, police conducted raids today in suspicious branches of Karnal and Yamunanagar districts, where bank records were scrutinized and several accounts are now under detailed investigation.
Continuous Successes
The Haryana Police Cyber Unit has previously busted multiple mule account rackets and successfully returned crores of rupees to victims. This operation marks another crucial step in the same chain of actions, further strengthening Haryana’s image as a national model in fighting cybercrime. The police strategy is not limited to catching criminals but also focuses on prevention, public awareness, and fixing accountability of financial institutions.
Strong Message to Criminals
DGP Shatrujeet Kapur reiterated that such operations send a clear message to cybercriminals—that they can no longer hide behind fake identities, mule accounts, or shell companies. Haryana Police will relentlessly pursue offenders and ensure they face justice.
Appeal to the Public
Haryana Police has urged citizens to immediately report any suspicious bank accounts, fake companies, or illegal transactions to the Cyber Helpline 1930 or at www.cybercrime.gov.in. The police emphasized that timely information can safeguard people’s hard-earned money and help bring criminals to justice.
