Mumbai, Oct 7 (PTI) A director of a private firm, whose bank account was found to have been used in at least 75 cases of online fraud to circulate the proceedings of crime, has been arrested by the cyber wing of the Mumbai police's crime branch, an official said on Tuesday.

The accused was identified as Bhavik Mohan Pethana, a resident of Siddharh Nagar, Goregaon.

Cyber fraudsters duped a person of Rs 4.12 crore between August 20 to September 4 by persuading him to `invest' in stock market, the official said.

During investigation, the South Region Cyber Police led by senior inspector Nandkumar Gopale found that the money had been transferred to various bank accounts.

Riyaz Thange (22), a resident of Mumbra in Thane district, was arrested on September 16 as one of the accounts was found

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