In a significant operation, the Thane police have arrested two individuals, including a hotel waiter, for allegedly defrauding victims of overRs3.7 crore under the guise of online share market investments. The accused, Salman Nizamuddin Khan, a waiter, and Prakash Karamsi Bhanushali, both residents of Navi Mumbai, were found to have been involved in additional fraudulent activities as well.
According to senior inspector Gajanan Kadam, the duo lured investors with promises of high returns on their investments between February 17 and April 24, 2024, amassing a total of Rs3,70,06,000 in illicit gains. The police have successfully frozen Rs46 lakh of this money, which was deposited into various accounts.
The investigation began after multiple victims filed complaints against unidentified persons at the cyber police station. A tip-off led the police to set a trap at a co-operative bank branch in Turbhe, where they apprehended the suspects on May 31.
During interrogation, it was revealed that Khan and Bhanushali also exploited individuals in urgent need of money, convincing them to submit documents for bank accounts. They misused these documents to acquire SIM cards and necessary business certificates, subsequently opening fictitious current accounts for fraudulent transactions.
The arrested men are suspected of being involved in similar scams across other states, including Telangana, Uttar Pradesh, and Chhattisgarh.
