Four held from Dharashiv, Latur and Jaipur in ₹71 lakh cyber fraud case

The accused allegedly lured the victim into a bogus share market investment scheme and siphoned off the money through a series of transactions

The Pimpri-Chinchwad cyber crime cell has arrested four individuals from Dharashiv (Osmanabad), Latur, and Jaipur (Rajasthan) in connection with a share market cyber fraud case involving ₹71 lakh. The accused allegedly lured the victim into a bogus share market investment scheme and siphoned off the money through a series of transactions.

The incident was reported on May 14 when a disabled, who had retired from job, was duped of ₹71 lakh in share market fraud. (REPRESENTATIVE PIC)

The incident was reported on May 14 when a disabled, who had retired from job, was duped of ₹71 lakh in share market fraud.

The accused have been identified as Alpahad Arif Momin, 27, from Dharashiv; Ajay Patil alias Shivprasad Mallikarjun Khudase, 39, from Latur; Surya alias Rahulsingh Nirmal Singh Karnawat from Rajasthan and Premshankar Baldev Bairagi from Bhilwara in Rajasthan. Accused were arrested between May 16 and May 18.

Probe revealed that the fraud amount was credited to the bank account of Alfa Industries by Momin, who had handed over his bank kit to Khudase. Momin and Khudase received ₹5 lakh to share their bank details with Karnawat who had committed the online fraud with Bairagi. The accused confessed to the crime and revealed of taking help from fraudsters based in China, Cambodia and Dubai.

Pravin Swami, assistant police inspector, Pimpri-Chinchwad cyber cell, said, ”Khudase was tasked to open new bank accounts by offering money to people. Our team covered 4,000 km covering two states in four days to nab the accused.”