The Cybercrime Cell has successfully dismantled a sophisticated fraudulent investment operation led by Abhaykumar Prasad (37), who posed as an authorized agent for leading insurance companies HDFC Life Insurance and Shriram Life Insurance. The scheme was designed to prey on unsuspecting individuals, promising exceptionally high returns on their investments.
Prasad, who was arrested in Noida, Uttar Pradesh, following an intensive technical investigation, convinced victims to invest in third-party insurance policies. He demanded fees under the guise of legitimate transactions, claiming they would yield significant returns. However, after the payments were made, victims discovered they had been scammed, and their hard-earned money was systematically siphoned off.
The elaborate scam came to light after a formal complaint was lodged with the CID Cybercrime Cell in Gandhinagar. A team led by Inspector P D Makwana carried out a comprehensive analysis of mobile phone records and bank transactions to trace the accused. This led to a raid and Prasad’s subsequent arrest.
During the raid, authorities seized crucial evidence, including seven mobile phones, 11 debit and credit cards, 12 SIM cards, a pen drive, a checkbook, and Rs 1.60 lakh in cash. Prasad has been formally charged under several legal provisions, including the Bharatiya Nyaya Sanhita (BNS), the Banning of Unregulated Deposit Schemes Act, and the Information Technology Act.
