The CID (Crime) Cyber Cell in Gandhinagar apprehended five individuals from Ahmedabad and Vadodara for their involvement in a Rs 3.16 crore investment scam. The fraud, initiated through a Facebook friend request and WhatsApp communication, led the victim to download a fake cryptocurrency app called “CBOE,” resulting in the significant financial loss.
Investigations uncovered that the accused had control over more than 26 bank accounts and were linked to over 116 cybercrime instances nationwide, totaling around Rs 82.67 crore. The arrested individuals include Sindhu alias Sinu and Kapil alias Lucky Chauhan from Ahmedabad, Jayganesh Pillai and Manish Jangid from Vadodara, and Kunj Dave from Nadiad.
Officials seized eight mobile phones during the operation, with Inspector Hardik Desai mentioning ongoing efforts to recover the defrauded amount and explore potential connections within the criminal network. The accused individuals were found to exploit traders’ financial hardships by renting bank accounts to facilitate their fraudulent activities, encompassing digital fraud, investment scams, UPI-related fraud, loan fraud, and part-time job scams.
SP Sanjay Keshwala highlighted the structured network operated by the accused, emphasizing the importance of verifying schemes before investing and cautioning against sharing bank account details with unknown parties. The Cyber Centre of Excellence’s continuous investigation aims to identify additional suspects involved in the elaborate fraud scheme.
