The North Cyber Police arrested Jaidev Dave, a 42-year-old resident of Rajkot, Gujarat, for allegedly defrauding a senior citizen from Borivali out of Rs 17 lakh through a digital fraud scheme.
The victim, a senior citizen living with her husband in Borivali, fell victim to the scam last month. In fear of an alleged arrest and acting hastily, she transferred Rs 17 lakh into the fraudsters’ accounts. It was only after the transaction that she realized she had been deceived and filed a complaint with the North Cyber Police.
According to police sources, Jaidev Dave worked as a loan agent who assisted clients in securing loans from various banks and private financial institutions. Under the guise of helping individuals secure loans, Dave would collect their bank account details and use these accounts to launder money obtained through cyber fraud.
Once the illicit funds were deposited into the victims’ accounts, Dave would immediately move the money to other accounts to erase the transaction trail. He would then forward the funds to other participants in the scam and ultimately to the scheme’s mastermind. Dave reportedly took a commission for facilitating the transactions.
In this case, Dave used his uncle’s account, into which Rs 10 lakh of the defrauded money was transferred. During the investigation, police obtained crucial bank account details through KYC verification and dispatched a team to Gujarat. After questioning the bank account holder, Dave’s uncle, 62-year-old Jaish Dave, it was confirmed that his nephew had used the account for the scam.
Jaidev Dave was taken into police custody and presented before the Borivali Metropolitan Magistrate after his arrest. The authorities are continuing their efforts to track down other individuals involved in the scheme.
“We are actively searching for additional suspects connected to the fraud,” stated an officer from the North Cyber Police.
