# MP panchayat member held in Rs 21 crore cyber fraud case 2026-08-09T08:43:08+00:00 | India | Indian Opinion Desk Corroboration: 1 independent outlet Madhya Pradesh cyber police arrested district panchayat member Jagdish Malviya and mechanical engineer Ankit Verma for allegedly routing money from a Rs 21.05 crore cryptocurrency investment fraud. The scam victim is a 70-year-old Gwalior-based chartered accountant. Investigators say Malviya allowed his bank accounts to be used as first-layer mule accounts, charging 2% commission. Over Rs 2.93 crore was traced to his accounts since November 2025. Malviya reportedly told police he wanted quick money to fund a future Assembly election bid. Verma allegedly arranged accounts to finance a large garage. ## Coverage - newindianexpress.com Tags: cryptocurrency scam, cyber fraud, election funding, Jagdish Malviya, Madhya Pradesh, panchayat member Canonical: https://indianopinion.org/mp-panchayat-member-held-in-rs-21-crore-cyber-fraud-case/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/mp-panchayat-member-held-in-rs-21-crore-cyber-fraud-case/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.