Hyderabad police arrested 13 members of a gang involved in a sophisticated UPI fraud worth Rs 4 crore. The accused, all from Rajasthan, used a unique modus operandi to cheat electronic showrooms and banks.
The gang operated in coordinated groups, with members split between Hyderabad and Rajasthan. The fraudsters visited showrooms like Bajaj Electronics in Hyderabad, where they purchased high-value electronic goods using UPI payment methods. However, they executed a clever scam: after making the payments, they instructed their associates in Rajasthan to initiate chargebacks by filing complaints with the bank, claiming the transaction was erroneous or unauthorized. This reversed the payments, causing the money to be refunded to the gang’s accounts while the electronics remained with them.
The Hyderabad police, with support from KPHB, Madhapur, and Narsingi police stations, seized Rs 1.72 lakh in cash and electronic items worth approximately Rs 50 lakh from the gang. The arrested individuals, including Som Raj, Sunil, LacRam, and several others, were tracked down through extensive investigations and joint operations.
The police have stated that they will continue to investigate the case and are looking into the gang’s broader network of operations. They also suspect that similar fraudulent activities might have taken place in other parts of the country.
