New Delhi [India], September 17 : The IFSO Unit of Delhi Police's Special Cell has arrested five people, including a bank relationship manager, in connection with an alleged Rs 12.84 crore cyber fraud targeting Hero FinCorp Ltd, while Rs 1.7 crore of the cheated amount has been put on hold, officials said.
The case was registered on a complaint by Hero FinCorp Ltd, a registered Non-Banking Finance Company (NBFC), after the company detected unauthorised debit transactions from its corporate bank account through system alerts from HDFC Bank.
According to the complaint, 317 unauthorised digital transactions amounting to Rs 12,84,09,997 were carried out without the authorisation, instruction, consent or knowledge of the company's management. The funds were routed to 34 different primary-layer bank accounts.
A case, FIR No. 135/26 dated August 21, 2026, under Sections 308, 318(4), 319 and 340 of the BNS was registered at the Special Cell police station, and an investigation was initiated.
During the investigation, the IFSO Unit analysed details of the alleged bank accounts and mobile phone records linked to the fraud. Raids were subsequently conducted at multiple locations across India, leading to the arrest/apprehension of five persons.
The accused have been identified as Abhay Kumar Solanki of Bulandshahr, Lovely of Kurukshetra, Naman Kumar of Jaipur, Harman of Bikaner and Vikas of Jaipur.
Police said Rs 60,000 was credited into Solanki's account and later withdrawn through an ATM. Lovely was the account holder of Property Gallery, Central Bank of India, Thanesar, Kurukshetra, where Rs 80 lakh was allegedly received. He had opened the account on the inducement of an absconding accused, Satyam of Cheeka, Kaithal.
Naman was the account holder of Infirmity Services at Yes Bank, Jaipur, where Rs 40 lakh was allegedly received. His IndusInd Bank account also received around Rs 70 lakh and is linked to 43 complaints on the National Cybercrime Reporting Portal (NCRP) across India, police said.
Police further alleged that Naman met co-accused Harman through Vikas, who operated his IndusInd Bank account for receiving and transferring the cheated amount after installing an APK file on Naman's mobile phone. Naman was also introduced to another accused, Sourav of Delhi.
Harman was allegedly in contact with various Chinese groups on Telegram and directly communicated with Devender Singh Chauhan of Udaipur, who allegedly converted the cheated money into USDT and transferred it to fraudsters based abroad.
Harman had allegedly obtained and operated Naman's bank account on commission and received around Rs 1.5 lakh from Devender Singh as commission, police said.
Vikas, a relationship manager with RBL Bank in Jaipur, allegedly helped Naman open accounts in Yes Bank and IndusInd Bank and introduced him to Harman.
The investigation has so far led to a lien/hold being placed on Rs 1.7 crore in the fraudulent accounts, officials said.
The Special Cell said the offence was found to be grave, organised and trans-state in nature, involving sophisticated cyber fraud and systematic laundering of the proceeds of crime.
Police said other key members of the syndicate based in Dubai and India have been identified, and efforts are underway to arrest them.