MP Cyber Crime Branch Busts Share Market Fraud Gang, Mastermind Arrested In Gujarat

Bhopal (Madhya Pradesh): The cyber crime branch has arrested the mastermind of the share market fraud gang, which was involved in large-scale fraud under the guise of share market investments. The accused, operating from Vadnagar, Gujarat, lured victims by promising double returns on investments in MRF company shares.

According to police reports, the gang used mule bank accounts to receive fraudulent funds and obtained SIM cards through umbrella holders for communication. They sourced potential victims' data from Just Dial. The investigation revealed that the gang had defrauded over 100 individuals, amassing large sums of money.

A complaint was filed on January 31, by a Bhopal resident, who was cheated of Rs 13.44 lakh in a fraudulent share market scheme. Acting swiftly, cyber crime Bhopal branch registered case number 03/2025 under Section 318(4) BNS. After technical analysis, the police identified the accused and arrested two key members of gang from Vadnagar, Gujarat.

The arrested individuals are Thakor Sanjay (26), the gang leader responsible for making fraudulent calls, and Thakor Ajay (19), who withdrew and delivered the fraudulently obtained money, taking 15% commission. The police have seized four mobile phones, four SIM cards, and other incriminating documents.