The West Region Cyber Police have arrested three individuals for aiding cyber fraudsters in a Rs2 crore investment scam. The accused provided and used multiple bank accounts to facilitate the transfer of funds stolen from a former employee of a leading mutual fund company.
The arrested individuals have been identified as Dheeraj Chavan (21), Yuvaraj Teli (27), and Uday Bindu Phartale (37). Investigations reveal that Chavan and Phartale were the first-level beneficiaries, receiving Rs6.4 lakh and Rs8.4 lakh, respectively, into their accounts. According to police, Yuvaraj Teli arranged these accounts, offering Rs3,000 to each for handing over their account kits.
The crime occurred between June 5 and August 11, during which the victim, lured by a Facebook ad on share trading, was added to a WhatsApp group. There, he was persuaded to download a fake trading app and make 27 transactions to different bank accounts provided by the fraudsters.
The fraud came to light when the victim tried to withdraw his money and discovered he had been duped. Notably, one of the accounts used in the scam is also linked to 16 other cyber fraud complaints.
Authorities continue to investigate potential links to a broader fraud network.
