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The CBI has busted a major international cyber fraud network in India, filing a charge sheet against 17 accused and 58 companies. This network defrauded thousands of citizens through loan apps, Ponzi schemes, and online gaming platforms. This action by the CBI is a significant step towards protecting the country’s digital economy and vulnerable citizens.
CBI uncovers cyber fraud network
New Delhi: The Central Bureau of Investigation (CBI) has unearthed a large, well-organized international cyber fraud network in India, filing a charge sheet against 17 accused and 58 companies. This network was defrauding thousands of citizens through loan apps, fake investment schemes, Ponzi and MLM models, fraudulent part-time job offers, and deceptive online gaming platforms. Four foreign nationals are also involved in this case.
Uncovering a Widespread Fraud Network
The CBI investigation revealed that a coordinated cyber syndicate defrauded thousands of unsuspecting citizens through loan apps and other online platforms. These cybercriminals employed a highly sophisticated and layered system, utilizing Google ads, bulk SMS campaigns, SIM-box-based messaging, cloud infrastructure, fintech platforms, and numerous fake bank accounts. The entire network was designed to conceal the identity of the real masterminds and keep them beyond the reach of law enforcement agencies.
Network of Shell Companies
The police found that the cybercriminals had created 111 shell companies, which were used for money laundering and to hold and transfer the proceeds of the fraud. These companies operated entirely on the basis of forged documents, false statements, and fake addresses. Upon analyzing the accounts linked to these companies, the CBI discovered that transactions exceeding ₹1,000 crore had been conducted through them, with one single account showing transactions worth over ₹152 crore.
Involvement of Foreign Masterminds
Four foreign masterminds – Zhu Yi, Huan Liu, Weijian Liu, and Guanhua Wang – were involved in this cyber fraud network. These individuals obtained identity documents from Indian citizens, used them to create companies, and then perpetrated the fraud through these entities. This involvement came to light when the CBI found that these foreign nationals had established several shell companies in India and employed Indian associates to run them.
CBI Raids at 27 Locations
The CBI conducted raids at 27 locations across Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Jharkhand, and Haryana, seizing digital devices, documents, and financial records. Forensic examination of these records revealed that the network was being operated from abroad. Specifically, a UPI ID linked to the bank accounts of two Indian accused was found to be active at a foreign location until August 2025, providing clear evidence that the fraud network was being controlled from overseas.
Strict Action Against the Accused
The CBI has filed a charge sheet against 17 accused involved in this cyber fraud network, charging them with criminal conspiracy, forgery, use of forged documents, and violations of the Banning of Unregulated Deposit Schemes Act, 2019. The accused include both foreign nationals and Indian citizens who were assisting in the operation of this network on Indian soil.
