The North Cyber Cell of Mumbai Police has successfully cracked a major cyber fraud case, arresting three individuals involved in a multi-crore scam. The accused had opened as many as 70 bank accounts, which they used to facilitate fraudulent transactions for cyber criminals. In return, the criminals paid hefty commissions to the accused for every transaction.
The arrested individuals have been identified as Sheshnath Pandey (47), Satish Punamia (47), and Rahul Bachchan (37). According to the Cyber Cell, there are around 130 complaints against these 70 bank accounts from across the country. Their arrests are expected to play a pivotal role in solving these cases.
Speaking on the matter, Cyber DCP Datta Nalawade stated, “The accused duped a woman of ₹2.85 crore by promising high returns in the stock market. Their arrest came during the investigation of this case, revealing a much larger network of fraud.”
As per the North Cyber Cell, between February 2 and March 7, 2024, an unidentified person contacted the victim via WhatsApp. Claiming expertise in stock market investments, the person promised significant returns, asserting that higher investments would yield greater profits. Trusting the fraudster, the woman invested ₹2.85 crore, which was later siphoned off by the scam network.
Upon receiving the complaint, senior officers initiated an investigation under the leadership of Senior Police Inspector Suvarna Shinde. The probe revealed that the defrauded money was deposited into multiple bank accounts. Using advanced technical analysis and intelligence from confidential sources, the police traced and arrested the three accused from Daman and Diu, Gujarat, and Mumbai.
The police recovered six mobile phones, 10 SIM cards, a laptop, several bank passbooks, debit cards, and other critical documents used in the fraudulent activities. Investigations revealed that the accused had opened 70 bank accounts using forged documents in different names. These accounts were used to launder large sums of money.
The arrested individuals already have multiple cases registered against them in Mumbai and neighboring districts. The Cyber Cell is now delving deeper into their operations to uncover the full extent of their criminal network.
This breakthrough not only highlights the growing menace of cyber fraud but also the efforts of Mumbai Police in combating such sophisticated crimes.