Surat, Aug 13 (IANS) The Surat City Cyber Crime Police have arrested an absconding accused in a Rs 19.60 lakh investment fraud case as part of ‘Operation Mule Hunt 2.0’, with investigators finding that a bank account allegedly used to route cyber-fraud proceeds recorded nearly Rs 2.73 crore in transactions.
According to police, the accused had allegedly lured the complainant’s son into investing in the share market and a scheme called “BRP Fund 100 – Day Wealth Leap Program”, promising returns of up to 390 per cent.
The fraudsters allegedly established contact through a WhatsApp group named “BRP Fund-Grow Together-008” and the website app.toloyyi.com.
Police said the victim was persuaded to log into the website, where false profits were displayed to create the impression that the investments were generating returns.
Money was then allegedly transferred to different bank accounts. The complainant subsequently reported a loss of Rs 19.60 lakh to the Cyber Crime Cell in Surat.
A case was registered at the Cyber Crime Police Station under Sections 318(4), 336(2), 338, 336(3), 340(2), 61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 66(D) of the Information Technology (Amendment) Act, 2008.
The latest arrest is that of Vivek Beldiya, 30, a driver residing in Kapodra. He is originally from Makhniya village in Talaja taluka of Bhavnagar district. Police said two other accused had already been arrested in connection with the case.
They are Satyajit Manjeraiya, 28, who resides in the Vejalpur area of Ahmedabad, and Pankajkumar Ramani, 39, a businessman residing in Vesu. Satyajit is originally from Amreli, while Pankajkumar is from Dodiyaala village in Jasdan taluka of Rajkot district.
The investigation allegedly found that Satyajit’s ICICI Bank current account was obtained by Pankajkumar on commission and subsequently handed over to Vivek for commission.
Police said the account was then provided to absconding accused persons and used to conduct transactions involving cyber-fraud proceeds.
The account, identified as a Layer-01 account, recorded total financial transactions of Rs 2,72,97,899.50. Police also found 37 applications or complaints from different states registered on the National Cyber Crime Reporting Portal in connection with the account.
The arrests come amid a wider focus by Gujarat Police on mule accounts, which are bank accounts allegedly used by cyber-fraud networks to receive and move stolen funds.
Police have advised people to be cautious of social media advertisements promising unusually high returns from share markets or other investments.
They have asked investors to verify the authenticity of companies, applications and websites and check their SEBI registration before transferring money.
–IANS
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