Mumbai: The South Region Cyber police station has arrested the director of Ascent IT Services, Bhavik Mohan Pethana, in connection with a share market fraud amounting to Rs 4.12 crore.
About The Case
Pethana was found to be residing in Goregaon after the police discovered that Rs 1.5 crore of the defrauded amount had been transferred into his company’s bank account. Investigation through the National Cyber Crime Reporting portal revealed that the company’s bank account is linked to 74 complaints across India, including one case with Mumbai’s East Cyber police station and two with the North Cyber police station.
The police said that the victim was contacted via WhatsApp calls by two women identifying themselves as Tanishka Sanyam and Ahana Gill. Between August 20 and September 4, the accused lured the victim by adding them to a fake WhatsApp group that provided fabricated stock market tips. They convinced him to invest through a fraudulent trading application, falsely showing profits to gain trust.
Later, they enticed the victim with promises of higher returns and tricked them into transferring money into multiple bank accounts. Earlier, on September 16, the police had arrested Rehan Thange, 22, whose bank account had received Rs31 lakh from the same victim.
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