Mumbai Police has arrested several members of a major gang involved in cyber fraud. The gang allegedly used enticing investment offers to scam people. Seven individuals have been arrested in connection with the case, all of them being highly educated. They had set up an elaborate network of fraud across the country.
To trap people, they created several fake investment websites offering attractive but fraudulent schemes. They promised high returns in share market, gold trading and forex trading.
To attract more victims, they heavily promoted these fake websites on platforms ranging from Instagram to Facebook. Besides, they created fake profiles on matrimonial and dating sites to lure people into investing.
Once money was invested on these websites, it was never returned. The stolen money was converted into Binance crypto and transferred abroad.
This elaborate scam had been running for a long time. The gang constantly changed locations to avoid the police radar. They operated in multiple states.
Their luck ultimately ran out on December 12. The gang was executing fraud from a hotel room on the Mira Road highway when police, acting on a tip-off, raided the location and caught them red-handed.
Five members were arrested on the spot. Several laptops, key phones, SIM cards and documents were seized. Interrogation of these five led to several shocking revelations. All members are educated, social media-savvy, and technically skilled.
51 cases across 11 states solved so far
So far, the police investigation has solved 51 cases across 11 states linked to this gang, with the fraud amounting to approximately Rs 58 crore. Police suspect that the gang may have cheated 450–500 more people, with total fraud possibly exceeding Rs 200 crore. Several accounts have also been frozen by the authorities.
The seven arrested individuals are Roshan Shetty, Sabir Khan, Sanad Das, Aamir Sher Khan, Rahul Kumar, Mohammad Baloch and Abhishek.
The gang’s leader is believed to be operating from Dubai. Police suspect that more individuals may be involved in the network.
