₹5,600 crore fraud accused Ikhlaq surrenders at Kanpur police HQ
Kanpur, September 16: Ikhlaq Hussain, son of retired Inspector Tajdar, who was absconding in connection with a ₹5,600 crore fraud case, surrendered at the Police Commissioner’s office on Wednesday. Transactions totaling ₹75.3 million (US$1.75 million) were found in his four bank accounts over eight days.
The police are investigating this amount in connection with a fraud committed through gaming apps.
Staff Officer Yogesh Kumar stated that the investigation into the account transactions and the roles of those involved is ongoing.
Ikhlaq’s name surfaced in the investigation following the arrests of Shahzeb Waris and Salman. During grilling, they revealed that Mohammad Aamir, a resident of Sohanlal’s house in Bansmandi, managed his bank accounts. Police have also detained Aamir. His interrogation revealed information about 19 new bank accounts.
After Ikhlaq’s location was traced to Lucknow’s Lulu Mall, the police raided the site, but he escaped. Subsequently, information was received that he had fled to Nepal. Police were preparing to announce a reward for him. Meanwhile, he surrendered at the Police Commissioner’s office.
The police found accounts in Ikhlaq’s name at SBI, Bank of Baroda, HDFC, and ICICI Bank, with transactions totaling ₹10 million, ₹18.4 million, ₹11 million, and ₹35 million, respectively. Ikhlaq revealed that he leases a hotel and owns a GST firm. He claims Aamir connected him to the gang and managed the accounts.
Aamir’s interrogation revealed 19 more accounts linked to HDFC, IDBI, and Axis Bank. According to the police, Shahzeb Waris opened current accounts in the names of fake firms. Previously, information about 76 accounts was obtained. The investigation also revealed eight PAN numbers and five mobile numbers. Six cluster accounts linked to one PAN were found. Police are investigating transactions in these accounts. ₹6.5 million has been recovered since the arrest of the accused.
According to police, in 2024, Ikhlaq’s Bank of Baroda account saw transactions totaling approximately ₹180 crore in just eight days. The account contained approximately 1,200 entries. During interrogation, Ikhlaq provided information about GST, share trading, and other transactions. These past transactions are now being linked to the ongoing cyber fraud investigation.
The investigation has also revealed the name of Ikhlaq’s associate, Mohammad Arif. According to police, he attempted to obtain a loan of ₹2 crore for his firm using forged documents. Bank surveyor Manish is accused of allegedly accepting ₹20 lakh in exchange for ₹1.75 crore in a loan sanction. Police have sent a notice to the bank and are preparing to take action in the matter.
