The Thane Cyber Crime Branch has uncovered a sophisticated cyber fraud operation that transferred fraudulent funds to foreign accounts after “digitally arresting” a victim. Three individuals from Mumbai have been arrested in connection with the scam.
The arrested accused have been identified as Kishor Jain (63) – Chairman of Satkar Patpethi and a resident of Dadar; Mahesh Pawan Kothari (36) – a garment and imitation jewelry businessman from Santacruz, Mumbai; and Dhaval Bhalerao (26) – a cosmetics businessman residing in Bhandup.
According to the police, the complainant was initially contacted by fraudsters who falsely claimed that a parcel in his name had been seized. They alleged the parcel contained MD powder, a laptop, a passport, and credit cards. The victim was then asked to report to the Kalwa Police Station for an inquiry.
In a deceptive escalation, the scammers conducted a video call, during which one impersonated a Central Bureau of Investigation (CBI) officer. They sent forged case documents and used the video call to "digitally arrest" the victim, creating a false sense of legal urgency.
The victim was then coerced into verifying his financial transactions by transferring funds to multiple bank accounts provided by the fraudsters. Over ₹3 crore was transferred under the guise of verification. When the funds were not returned, the victim realized he had been scammed and filed an FIR at Thane Nagar Police Station.
Senior Police Inspector Prakash Walke from the Thane Cyber Cell stated, "The defrauded money was deposited into Kishor Jain's account. The funds were withdrawn in cash and later converted into USDT (a cryptocurrency) before being transferred to foreign accounts by the co-accused. We are working to trace the primary recipient of the USDT transfers. Further investigation is underway."
Police investigations revealed that ₹82.46 lakh of the ₹3 crore was converted into USDT and transferred overseas. The three accused were arrested on June 19, presented in court, and remanded to police custody for further inquiry. Authorities believe an international syndicate may be behind the operation.
