In a major breakthrough against inter-state cybercrime, the Uttarakhand Police cyber wing has arrested Chartered Accountant Abhishek Agarwal, the alleged mastermind behind a ₹750 crore fake loan app scam. Agarwal was detained at Delhi’s IGI Airport under a Look Out Circular (LOC). Investigations have uncovered a complex web of 35–40 shell companies, many registered in Agarwal’s and his wife’s names, with suspicious transactions linked to Chinese nationals, suggesting an international nexus.
The scam lured thousands via fraudulent mobile apps like 'Insta Loan', 'KK Cash', and 'RupeeGo', promising quick credit. Once installed, these apps accessed sensitive personal data, which was later used to blackmail and extort victims with threats of photo morphing and public shaming. The digital fraud ring reportedly began in 2019–20, with Agarwal facilitating Chinese nationals' entry into India and travelling to Shanghai and Shenzhen.
Authorities have already made several arrests in this case, including Ankur Dhingra from Gurugram and a call centre raid in Maharashtra. Agarwal’s arrest has provided crucial leads, and items including digital devices, cash, and documents were recovered. This bust highlights the growing sophistication and international links in cyber financial crimes targeting Indian citizens.
The Uttarakhand Police cyber wing has arrested Abhishek Agarwal, a Chartered Accountant and key figure behind one of India’s biggest cyber fraud operations involving fake loan apps. Agarwal allegedly operated a vast network of shell companies and collaborated with Chinese nationals to siphon off over ₹750 crore by exploiting unsuspecting victims through malicious mobile applications. His arrest marks a critical development in an ongoing probe into cybercrime syndicates preying on financial vulnerabilities using data theft, extortion, and blackmail tactics.
