A Bengaluru resident identified as Kumar Utlasar, aged 50, was arrested by the Goa Police cyber crime cell over an alleged investment scam involving ₹2.3 crore. The arrest followed a complaint from a Valpoi resident, who reported being duped through a series of WhatsApp messages encouraging high-return investments in stocks, The Times of India reported.
Bengaluru has seen several cyber crime and cyber fraud related incidents of late, including courier scams, stock investment scams, and digital arrests. (Shutterstock)
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SP Rahul Gupta from the crime branch spoke to reporters about the case and said it was registered on October 22 after the complainant was lured into a WhatsApp group named "A-33 High-Quality Stocks Exchange Group," where he was persuaded to invest in supposedly lucrative IPOs and upper-circuit stocks via the SMIFSMAX app, the report stated.
The accused promised substantial returns, leading the victim to transfer ₹1 crore into several bank accounts through various transactions. These transactions were linked to Utlasar’s company, Aurinko Diensten, which investigators identified as the recipient of the fraudulent funds, the publication noted.
SP Gupta revealed that Utlasar not only funneled part of the money to other accounts but also used ₹6 lakh from the victim’s funds for personal expenses. Analysis of his bank transactions showed connections to cyber fraud cases spanning nine Indian states, with a cumulative amount of ₹2.3 crore implicated in various scams, the report further stated.
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Currently held in police custody, Utlasar is under investigation, with another police official overseeing further probes at the cyber crime police station, the report added.
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Currently held in police custody, Utlasar is under investigation, with another police official overseeing further probes at the cyber crime police station, the report added.
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.
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Home/Cities/Bengaluru News/Bengaluru man arrested for running inter-state cyber scam racket, defrauding several of ₹2.3 crore: Report
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