Police nab cyber fraud operating from Dubai

The cyber cell of Navi Mumbai (Zone II) has arrested a key member of a Dubai-based cyber gang involved in defrauding the public with promises of substantial returns on stock investments. The 34-year-old accused, a resident of Antop Hill, has been linked to several multi-crore forex trading frauds across the country

Navi Mumbai: The cyber cell of Navi Mumbai (Zone II) has arrested a key member of a Dubai-based cyber gang involved in defrauding the public with promises of substantial returns on stock investments. The 34-year-old accused, a resident of Antop Hill, has been linked to several multi-crore forex trading frauds across the country.

HT Image

Inspector Deepali Patil of the Cyber Cell said, “During the investigation of a complaint filed by a resident from Khanda Colony, we obtained crucial leads connecting the accused and his gang to operations in Dubai. Transaction details were essential to our investigation. We confirmed through our sources that the accused was scheduled to visit his family in Antop Hill, where he was arrested upon his arrival.”

The complaint, registered on April 25, involved a Khanda Colony resident who was defrauded of ₹22.54 lakh through stock investments. After his arrest, the accused admitted to being part of a gang that ran a call centre in Dubai, employing a scheme to assist in opening demat accounts with promises of high returns.

Initially hesitant, the complainant was persuaded by an early profit of ₹1 lakh from a ₹34,000 investment. This led him to invest ₹22.54 lakhs in several installments between January 1 and April 1, under the belief in the scheme’s legitimacy.

The identity of the accused is being withheld to prevent alerting other gang members, especially the primary operator of the Dubai call centre. “Revealing the identity would risk tipping off the gang, including the mastermind. We are searching for the remaining members and have seized ₹9.75 lakh from the accused,” said Inspector Patil.