Cyber fraud who scammed Malad resident in March, arrested

The accused confessed to have been operating under instructions of cyber criminals as he was getting a commission

MUMBAI: The police arrested 38-year-old cyber fraud on Tuesday after he duped an entrepreneur to the tune of ₹53 lakh after luring her to earn high returns in stock market. The accused, Dinesh Chawla, is part of a cyber fraud syndicate and has opened multiple bank accounts to receive defrauded money, and received a commission for his role.

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According to the police, the 45-year-old complainant, a Malad resident, runs a software development company. In her complaint, she said she mostly uses the internet for business transactions. Chawla called her in March and claimed to know her friend. After earning her trust, he suggested her to invest in a trading company where she can earn good returns.

She was added to a WhatsApp group and saw other members praise the company for their profits. After observing for a few days, she decided to invest. The fraud shared a link to the victim, asking her to upload her bank account details and her documents to open a virtual account. She then transferred ₹60 lakh to different accounts they provided her. When she wanted to withdraw the money, she was only allowed to withdraw ₹6.25 lakh from her profits, said a police officer.

The complainant said she saw profits in her account went to ₹90 lakh but was asked to invest ₹44 lakh more before withdrawing or give up 15% as tax from her profits. The scammers then began giving excuses and avoiding her calls, the officer said. Suspecting foul play, she searched for the company online and learnt it was fake. She filed a complaint with the North Cyber police station in the first week of April.

During investigation, the police found Chawla’s bank account received the amount from the complainant. During interrogation, he confessed to have been operating under instructions of cyber criminals as he was getting a commission.

He was arrested on Tuesday and produced before the court where he was remanded to police custody till Saturday, added officer.