The Surat City Cyber Crime Cell apprehended five individuals involved in an interstate cyber fraud network for deceiving a resident of Rs 26.20 lakh through a counterfeit share market trading and investment scheme. The fraudsters, operating through a fake trading website, lured the victim with high returns on investments, resulting in the transfer of the defrauded amount into multiple bank accounts. Upon investigation, it was discovered that the bank account linked to the scam had been associated with 149 cyber crime complaints nationwide and suspicious transactions exceeding Rs 6.53 crore.
The scam initiated when the victim was added to a WhatsApp group where the perpetrators shared false share market trading tips, claiming substantial profits through their trading application. Subsequently, the victim was directed to a bogus trading platform and instructed to create an account. Coerced by the accused, the victim transferred a total of Rs 26.20 lakh for share market trading and investment purposes. However, the money was never refunded, prompting the victim to report the incident through the National Cyber Crime Helpline, 1930.
Following the complaint, an FIR was registered by the Cyber Crime Cell under specific sections of the Bharatiya Nyaya Sanhita, 2023, and the Information Technology Act, 2008. Assistant Commissioner of Police (Cyber Crime) S.E. Daniels oversaw the investigation, with Police Inspector V.D. Mandora leading the team that apprehended the culprits from Odisha and West Bengal. The arrested individuals were identified as Ranjan, Krishna Kumhar, Subaschandra, S.K. Alamgir, and Basantsingh, all of whom played distinct roles in the fraudulent activities.
The investigation uncovered that Ranjan and Krishna jointly established an Axis Bank current account under the name “RRK PublicBazzar Private Limited,” which was later utilized by the network for fraudulent transactions. The accused rented the account to others for a commission, facilitating the transfer of defrauded funds to absconding members. Notably, the Axis Bank account had been associated with numerous cyber fraud complaints and suspicious transactions exceeding Rs 6.5 crore, highlighting the extensive reach of the criminal network.
