3 Arrested In ₹58.72 Lakh Share Trading Investment Fraud, 73 Linked Cases Uncovered Across India

Mumbai: The South Cyber police of the Mumbai Crime Branch have arrested three persons from Nagpur in connection with a share trading investment fraud case involving Rs 58.72 lakh. Investigations have revealed their alleged involvement in six cases registered in Mumbai and a total of 73 cybercrime cases across the country.

The arrested accused have been identified as Aniruddha Satish Uke, 34, a resident of Wathoda Road, Nagpur; Amit Diliprao Kale, 25, and Ritik Shailesh Dhargave, 30, both residents of Jaripatka, Nagpur.

Bank Documents And SIM Cards Seized

During the operation, the Crime Branch seized cheque books and passbooks linked to 11 different bank accounts, 25 SIM cards of various companies, rubber stamps of 11 fictitious companies, three stamp pads, debit/ATM cards, QR codes, documents of shell companies and PAN cards.

Victim Lured With High Returns

According to the police, between June 10 and September 8, a woman identified as Meera Iyer, along with her associates, allegedly lured the complainant into investing in share trading by promising high returns. The complainant was persuaded to transfer a total of Rs 58.72 lakh into various bank accounts, resulting in financial loss.

A case was registered at the South Cyber police station on September 9 under Sections 318(4), 319(2), 338, 340 and 61(2) of the Bharatiya Nyaya Sanhita (BNS), along with Sections 66(C) and 66(D) of the Information Technology Act.

Money Trail Leads To Nagpur

During the investigation, police found that Rs 24.75 lakh of the defrauded amount had been transferred to a current account held in the name of Grain Garden Delights Pvt. Ltd. at the Central Bank of India, Jaripatka branch, Nagpur.

Based on technical analysis and information available on the National Cyber Crime Reporting Portal, the Crime Branch traced the bank account holders and their associates to Nagpur. On November 2, the police arrested all three accused, including the alleged mastermind.

Shell Company And Fraudulent Transactions

Investigations revealed that Uke and the alleged mastermind, Amit Kale, had conspired to establish Grain Garden Delights Pvt. Ltd. in the name of their associate Ritik Dhargave. The accused allegedly used a fabricated rent agreement to register the company.

Police further found that Kale had logged into his own mobile phone using a mobile number registered in Dhargave's name. He allegedly used this number to facilitate fraudulent transactions and shared it with other associates to route the cheated money through online banking channels.

The investigation has also uncovered the alleged involvement of the accused in six cases in Mumbai and 73 cybercrime cases registered across India.

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Police Advisory

The Mumbai police have urged citizens not to trust unknown individuals who approach them through WhatsApp and promise high returns through share market investments. Citizens have been advised not to transfer money into unknown bank accounts or invest based on unsolicited online offers. In case of cyber financial fraud, victims should immediately contact the national cybercrime helpline 1930.

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