Cyber fraud syndicate busted in ₹12.84 crore Hero FinCorp case, five arrested

The Delhi Police’s Intelligence Fusion and Strategic Operations (IFSO) unit of the Special Cell has arrested five people, including a bank relationship manager, in connection with a cyber fraud in which ₹12.84 crore was siphoned from the corporate bank account of non-banking finance company Hero FinCorp Ltd.

The accused have been identified as Abhay Kumar Solanki, Lovely, Naman Kumar, Harman and Vikas. Police said their investigation has also uncovered links to Chinese groups operating on Telegram and a network through which part of the cheated money was allegedly converted into USDT and transferred to fraudsters based abroad.

The case was registered after Hero FinCorp reported that its HDFC Bank account had been subjected to a series of unauthorised debit transactions. According to the complaint, 317 transactions amounting to ₹12,84,09,997 were routed into 34 primary-layer bank accounts without the knowledge or consent of the company’s management.