India, May 10 -- Three people from Gujarat, Rajasthan and Madhya Pradesh have been arrested for allegedly providing mule bank accounts to receive over Rs.1.2 crore in separate cyber fraud cases involving fake IPO investments, digital arrests and forex trading scams, the Delhi Police crime branch said on Saturday.

In one case, registered on May 30 last year, a resident of east Delhi's Laxmi Nagar was allegedly cheated of around Rs.46.66 lakh through a fake stock market and IPO scheme. During the investigation, police said they traced Rs.6.71 lakh of the cheated amount to a bank account belonging to a Surat-based firm. The authorised signatory of the account was arrested in Gujarat. Police said the accused allegedly provided the bank accou...