India, April 9 -- Bhavnagar Police have dismantled a large-scale cyber fraud racket operating across multiple states, involving financial fraud exceeding Rs 21.37 crore.

The police have arrested 10 accused, including the kingpin, and initiated legal action under stringent provisions. According to officials, the gang operated through a well-organized network led by a mastermind who appointed managers to oversee operations.

The group targeted unsuspecting individuals, luring them into opening bank accounts under their names. These accounts were then used to channel fraudulent funds. The accused collected essential banking materials such as passbooks, cheque books, ATM cards, and SIM cards from account holders.

 The fraudulently obta...