Karnataka Cyber Command has apprehended two men, Kumawat Yogesh (30) from Gujarat and Imran Yamin (32) from Delhi, in connection with a large-scale stock market fraud.
The accused operated a bogus call centre under the guise of Multiwave Business Solutions Private Limited in Jayanagar, Bengaluru. Authorities seized 31 mobile phones, 13 laptops, 16 SIM cards, official letterheads, and records containing names and contact details of potential victims.
The call centre employed over 15 executives from across India to contact individuals, including tech professionals, retired employees, and business owners. Posing as legitimate investment advisors, they promised high returns on stock market investments. Once victims transferred funds to the accounts specified by the accused, the scammers cut off all communication.
Police have launched further investigations to trace additional accomplices and the full extent of the financial fraud.
