Mumbai police's regional cyber cell has arrested 10 persons from different parts of the country for alleged involvement in five cases in which victims cumulatively lost Rs 1.47 crore, an official said on Saturday.

The victims were lured into investing in share markets through a fintech company, after which the money was laundered through hawala channels and a web of fraudulently created bank accounts, the official said.

Those held include Jayesh Unni (34), Arbaz Samir Khan (26) and Shailesh Purshottamdas Patel (53) from Navi Mumbai, Ajay Kumar Sukhdev Karche (51) from Malad, Amit Ram Singh (43) from Delhi, Hitesh Surat Singh (29) from Haryana, Nitin Chendwankar (47), Rajesh Sonawane (51) and Uday Salvi (47) from Mumbai, the official said.

They were remanded in police custody and further probe into this online racket is underway, he added.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.