The mastermind of a cybercrime network busted by Mumbai police is said to have earned more than Rs 5 lakh each day.

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Mumbai police have exposed a ring of cybercriminals who stole money from people across the country by posing as police officers and arrested its kingpin, who studied until Class 12 and used to do transactions in his accounts worth more than Rs 5 crore per day, an official said on Wednesday.

According to the official, mastermind Shrinivas Rao Dadi (49), who has sound technological skills despite his minimal schooling, was apprehended by a team from Bangur Nagar police station at a luxurious hotel in Hyderabad.

In addition to Dadi, police apprehended four more members of his group, including two from Thane and as many from Kolkata, he added.

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