Prakash’s troubles began when he was apprehended by the police at an airport, carrying two phones. His Chinese and Dubai associates noticed that he was unresponsive to their messages and grew suspicious that he might be in the custody of security agencies. To eliminate evidence, they remotely wiped data from one of his phones.
However, police managed to analyze the other phone, uncovering crucial communication and bank account details, leading to the staggering revelation of the Rs 712 crore fraud. Officials believe that if the data on the first phone had not been erased, the fraud could have been even larger.
Prakash’s Chinese handlers had provided him with a luxurious stay in Dubai, where he resided with his family. Prakash’s passport showed travel to Dubai and China on a business visa, hinting at his involvement in the fraudulent activities.
The investigation is ongoing, and authorities suspect there may be more Indians like Prakash involved in aiding Chinese nationals in arranging bank accounts for similar fraudulent schemes. Police have also discovered crypto wallets linked to Prakash, through which Indian depositors’ money was converted into cryptocurrency. His travel history is being further probed, with his old passport under scrutiny to gather more evidence.
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