The Cybercrime branch of Pimpri Chinchwad police has arrested five individuals involved in a high-value share-trading scam that duped a victim of Rs 54.6 lakh. The accused reportedly laundered illicit funds using multiple mule bank accounts across Madhya Pradesh and New Delhi.
The arrested suspects include Poonam Jain (42) and Ganesh Dhole (28) from Madhya Pradesh, along with Rajesh Kushwaha, Pradip Kane, and Harishid Ghotan from New Delhi. Police revealed that the accused funneled money through various bank accounts in these states, withdrawing the amounts after transfers.
The prime accused operated a fraudulent stock trading platform promising high returns. One complainant was manipulated into investing repeatedly between July 2 and 9. Initially, small deposits yielded fake profits shown on the app, encouraging continued investments until the platform crashed and blocked access.
Investigations uncovered the creation of shell companies and multiple bank accounts used to launder the scam money. Authorities have frozen suspicious transactions and are tracing digital footprints connected to the suspects.
Deputy Commissioner Shivaji Pawar urged the public to remain cautious and report similar scams to the Pimpri Chinchwad Cyber Police promptly.
