India, Sept. 6 -- Two men were arrested for allegedly facilitating a multi-crore stock market scam by providing their bank accounts to interstate cyber criminals. The accused, Mohammad Asim Ali Khan from Uttarakhand and Rushikesh Jaywant Kamble from Maharashtra, acted as "professional account providers" for organised cybercrime networks that duped investors with fake IPO funding and high-return stock market investment schemes, police said. According to the police, victims were lured through social media groups into downloading fake trading applications and then convinced to transfer large sums of money.

The investors funds were routed through layered bank accounts - a method used to launder money through several bank accounts to make the...