Navi Mumbai Cyber Police Bust ₹1.07 Crore Online Trading Scam, Arrest 7; Links To China, Cambodia Emerge

Navi Mumbai: The Navi Mumbai Cyber Police have arrested seven people involved in a large-scale online trading fraud that duped investors of over Rs 1.07 crore, and have seized 118 bank accounts linked to the scam across various states.

Fake Trading Apps Used to Lure Investors

According to the police, between September 2 and October 8, the accused lured victims with promises of high profits from investments in share market trading. They gained the complainant’s trust and convinced them to transfer money into multiple bank accounts.

Through a fake trading application, the accused showed inflated virtual profits, prompting further investments before cutting off contact and disappearing with the funds.

Case Registered Under BNS and IT Act

Based on the complaint, the Navi Mumbai Cyber Police registered an FIR under Sections 319(2), 318(4), 336(2), 336(3), 340(2), and 3(5) of the Bharatiya Nyaya Sanhita, along with Section 66(D) of the Information Technology Act, for cheating and cyber fraud.

Key Arrests Made After Tracking Money Trail

Acting on directives from Police Commissioner Milind Bharambe, Joint Commissioner Sanjay Yenpure, Additional CP (Crime) Deepak Sakore, and DCP (Crime) Sachin Gunjal, the Cyber Police launched a meticulous investigation.

The probe led officers to Suresh Talekar (29), a bun-seller from Kharadi, Pune, whose current account was found to have received part of the defrauded amount. He was arrested on October 29, followed by his associate Vikas Awhad (30) of Haveli, Pune, who was apprehended two days later.

Further investigation led to the arrest of Vishal Vanmane (24) from Kolwadi, Pune, who revealed that he had been in contact with unknown persons through a Telegram group and was instructed to meet three men at a hotel in Mahape, Navi Mumbai.

Chinese and Cambodian Links Uncovered

These three Hindi-speaking men, suspected to be from another state, had collected SIM cards linked to Vanmane’s current account. Based on this information, the Cyber Police conducted searches across 35 to 40 lodges and hotels in Mahape, Sanpada, Koparkhairane, APMC, and Vashi. Using both traditional and digital surveillance, officers finally traced and arrested five more accused from Hotel Radhe Residency in APMC, Vashi.

During questioning, it was revealed that three of the arrested suspects were in direct contact with cyber fraudsters based in China and Cambodia through Telegram. They allegedly used the “Okay Go SMS & Sender” app to forward OTPs from Indian SIM cards linked to multiple current accounts, enabling the foreign handlers to make fraudulent financial transactions.

118 Bank Accounts Frozen; ₹32.5 Lakh Recovered

Police have so far frozen 118 bank accounts across different states containing Rs 32.5 lakh linked to the racket. The total amount siphoned off through the scam is estimated at Rs 1.07 crore. The investigation is being supervised by Senior Police Inspector Vishal Patil of the Cyber Police Station.

“These fraudsters were part of a wider international network using fake trading apps and social media ads to lure investors. Our team worked relentlessly to track their financial trail and dismantle their local operations,” said DCP (Crime) Sachin Gunjal, said.

Appeal for Public Vigilance Against Online Scams

The operation was carried out under the guidance of ACP (Cyber) Prerna Katte and leadership of Senior PI Vishal Patil and PI Ganesh Jadhav, assisted by PSI Rohit Bandgar, technical officers Vijay Ayare and Poonam Gadge, and police personnel Raviraj Kamble and Bhausahab Phatangare.

Authorities have urged citizens to remain cautious and not fall for advertisements on Telegram, Instagram, WhatsApp, Facebook, or other social media platforms promising high returns from share market investments.

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“Always verify the authenticity of trading platforms before investing and never share personal or banking details with unknown persons,” police appealed.

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