Indore (Madhya Pradesh): Two people who allegedly cheated several citizens in the name of share trading were arrested by the State Cyber Police from Indore on Monday.
They were arrested in a major online fraud case linked to Jabalpur.
The case came to light after a woman filed a complaint against them for duping her over 14 lakh.
The accused reportedly promised high profits and lured people into investing money, then disappeared after collecting large amounts.
The arrested men have been identified as Akshay Kumar Mandlik and Mithun Jatav.
Police said they were working with the gang’s mastermind, Aniket Matre, who had been running the fraud network for a long time.
How the group carry out the act?
The group targeted common people and convinced them to invest in fake share trading schemes with the promise of quick and heavy returns.
The case came to light after a woman filed a complaint with the cyber police. She told officers that the accused had promised her big profits through share trading and asked her to deposit money into different bank accounts. Believing their claims, she transferred a total of Rs 14.16 lakh. Later, she realised that she had been cheated.
After receiving the complaint, police registered a case under sections related to cheating and cyber fraud and began an investigation. A special team was formed under the guidance of Superintendent of Police Pranay Nagvanshi and led by Inspector Nilesh Ahirwar.
During the investigation, the team examined bank transaction records, call details and other digital evidence. They found that the main accused, Aniket Matre, was operating a call centre in Indore. From there, people were called and offered fake investment plans with promises of high returns.
Police also found that the money was transferred into mule bank accounts to hide the source.
The cash was later withdrawn to avoid tracking. Akshay and Mithun were mainly responsible for arranging these accounts and handling the transactions. Another accused, Dayanand Majhi alias Chintu, was also involved.
Based on technical evidence, the cyber police team raided locations in Indore and arrested the two accused. During questioning, they admitted to cheating several victims. Police said the gang spent the stolen money on their personal needs and luxury.
Further investigation is underway, and police believe more people may be linked to the gang. Citizens have been advised to stay alert and avoid unknown calls or messages related to investment offers.
