India, Aug. 5 -- The Pimpri-Chinchwad police have arrested a 25-year-old man for allegedly supplying mule bank accounts to a cyber fraud syndicate that cheated at least 65 people across multiple states of nearly Rs.150 crore, officials said on Tuesday.

The accused, identified as Sachin Sanjay Kale of Paithan in Chhatrapati Sambhajinagar district and Moshi resident, was arrested following a probe into fake online investment schemes.

Deputy commissioner of police (Zone III) Maruti Jagtap said that Kale had opened nine bank accounts in his name and allowed them to be used to receive money siphoned from victims through fraudulent online investment platforms. The funds were subsequently withdrawn through ATMs and cheque transactions.

Senior...