Ludhiana: What looked like a jackpot turned into a police raid, as cops busted a Dubai-linked gambling network that spun rupees into cryptocurrency and left victims chasing phantom payouts. Rural police of this district claimed after arresting five men that this racket had funnelled crores of dollars to a suspected mastermind sitting abroad.The group allegedly lured victims with promises of large payouts from betting websites before duping them of their money. The five men arrested were identified as Abhinav Garg, 24, of Barnala; Om Prakash Om, 29, of Bihar; Amitraj Amit, 28, of Bihar; Vishwajit Singh, 36, of Uttar Pradesh; and Rihan Khan, 25, also of Uttar Pradesh.Modus OperandiLudhiana’s senior superintendent of police (rural) Ankur Gupta, the gang operated through online betting sites like Parimatch and Mostbet, convincing people to deposit money in Indian rupees into fraudulent bank accounts.Investigators said the group made daily transactions worth crores of rupees, then converted the funds into cryptocurrency to send to the Dubai-based ringleader. The group’s members also received their own commissions in cryptocurrency.During questioning, the accused named Om Prakash as a key leader who managed a network of bank accounts for the operation. He reportedly traveled to smaller cities to open new accounts but primarily worked from major metropolitan areas like Delhi and Mumbai. The police have been using technical assistance to investigate the case, including whether any bank officials were involved.The MastermindPolice sources claim that the main architect of the scam is a man based in Dubai who remains at large. The five men in custody had used as many as 40 bank accounts to facilitate their transactions and were in Jagraon to open more when they were apprehended. Police seized eight mobile phones, eight SIM cards, two checkbooks, a laptop, and a car from the suspects.
