Gujarat Police arrest five in Rs 3.16cr fraud linked to Rs 82.67cr cyber scams nationwide

Gandhinagar, Feb 21 (IANS) The CID (Crime) Cyber Cell in Gandhinagar has arrested five individuals from Ahmedabad and Vadodara in connection with a Rs 3.16 crore investment fraud, officials said on Saturday. 

According to the FIR filed on January 26, the scam involved unknown perpetrators who initially contacted the complainant through a Facebook friend request and subsequently via WhatsApp.

They persuaded the victim to download a fake cryptocurrency application named “CBOE,” resulting in the estimated loss of Rs 3.16 crore.

Investigations revealed that the accused had access to more than 26 bank accounts.

Checks on the Cybercrime Portal indicated their involvement in over 116 cybercrime cases across India, amounting to approximately Rs 82.67 crore.

The offences were recorded in multiple states, including Andhra Pradesh (5), Assam (1), Daman and Diu (1), Delhi (3), Goa (1), Gujarat (10), Haryana (8), Karnataka (17), Kerala (6), Maharashtra (22), Punjab (5), Tamil Nadu (2), Telangana (8), Bihar (1), Chandigarh (1), Jharkhand (1), Rajasthan (2), West Bengal (7), Odisha (3), Madhya Pradesh (2), and Uttar Pradesh (10).

The five arrested individuals are Sindhu alias Sinu (Ahmedabad), Kapil alias Lucky Chauhan (Ahmedabad), Jayganesh Pillai (Vadodara), Kunj Dave (Nadiad), and Manish Jangid (Vadodara, originally from Jodhpur, Rajasthan).

Officials seized eight mobile phones during the operation.

Inspector Hardik Desai of the Cyber Centre of Excellence told IANS, “We are investigating possible links of this gang and are in the process of recovering the amount. This gang operated across multiple states. These five are the main accused, but if we receive leads on other individuals involved, we will apprehend them.”

Police stated that the accused rented bank accounts from traders facing financial difficulties to manipulate funds for cyber fraud.

They employed various methods including digital fraud, investment fraud, UPI-related fraud, loan fraud, and part-time job fraud.

SP Sanjay Keshwala added: “The accused were running a structured network across the country and were arrested following a technical investigation and analysis of money trails. We appeal to the public to thoroughly verify any schemes or applications before investing and warn against renting bank accounts, ATM cards, chequebooks, or SIM cards to unknown persons.”

The Cyber Centre of Excellence continues to investigate and track additional suspects.

Officials described the operation as a major success in addressing the rising cases of investment fraud and cybercrime in Gujarat and across India.

--IANS

mys/pgh