Two youths from Veluthur, who led a luxurious life with the money they received in one of their accounts, were arrested by the police here on Saturday.
According to the bank officials, ₹2.44 crore was credited to the account maintained by one of the youth by mistake due to some server issue during merger of the bank with another bank.
The two youths, who were arrested by the police on the complaint by a new-generation bank, were remanded in judicial custody.
The money was credited to the account of the youth on December 18. They transferred the money to 54 various accounts in 19 banks in various phases. In all 171 transactions were done by them, according to the cyber crime police. The police are trying to trace account holders.
The police found that the youths also tried to convert the money into crypto currency. They bought four I-phones worth ₹4 lakh with the money. Two of the phones were presented to friends. They repaid their loans worth ₹4 lakh in various financial institutions.
A team led by Thrissur City Cyber crime Inspector A.A. Asharaf is investigating the case.
