Karthik Pappu allegedly laundered at $65,000 through a cafe and jewellery store

An alleged syndicate involving Indian nationals on student visas is accused of scamming victims out of more than $3.4 million.

Karthik Pappu, 34, is accused of money laundering as part of the major syndicate involving more than 100 people and 1000 bank accounts that was uncovered by Queensland Police's Financial and Cyber Crime Group. Picture: Instagram,

An alleged criminal syndicate involving Indian nationals on student visas is accused of scamming victims out of over $3.4 million.

Karthik Pappu, 34, has been charged with one count of money laundering between January and June 2021, as part of a major syndicate involving more than 100 people and 1000 bank accounts.

Pappu, who came to Queensland on a student visa in 2014 and is now allegedly living illegally on the Gold Coast, appeared in the Brisbane Magistrate Court on Thursday where he was refused bail.

The alleged scammers are accused of targeting people through cold calling.

Police allege the network has obtained millions of dollars through cold call technology scams, with the money then being deposited into accounts opened by mules who receive a commission for sending the funds offshore.

Magistrate Robbie Davies said Pappu was accused to have been a major part of the operation where he allegedly acted as one of the money mules rather than as a scammer.

“There‘s about 100 persons of interest who have been involved, the majority being Indian nationals on student visas,” he said.

“Detectives have executed numerous production notices related to bank accounts and have identified over 1000 bank accounts being used by the syndicate.

“It seems that over 150 victims lost some in excess of $3.4 million to the scamming.”

The court heard Pappu was alleged to have laundered at least $43,000 through a jewellery shop and $21,000 from a Brisbane cafe.

Defence lawyer Ay Phillips said the details of what was alleged to have occurred were unclear.

“The case doesn‘t present as a strong one, he has absolutely no criminal history,” he said.

Police prosecutor Sgt Wade Domagala alleged Pappu had failed to tell police where his passport was and said he was a flight risk.

“That’s what fraudsters do, they are just scammers and they lie… everything is set up so they can just disappear,” he alleged.

Mr Davies said there was an unacceptable risk that Pappu would continue to engage in criminal behaviour and fail to return to the court if he was granted bail.

So far at least 13 people have been arrested under Operation Romeo Taper by Queensland Police’s Financial and Cyber Crime Group.

Earlier this week Sunnybank jewellery store manager Anand Mahendra Rathod faced court charged with money laundering.

Police allege mules were coming into the jewellery store while he was working and making payments using Apple Pay on their phones, the court heard. Rathod had his bail application refused.

Pappu and Rathod will next appear in court in the coming weeks.