In a significant crackdown on an international cybercrime racket, Pimpri Chinchwad police have arrested eight individuals, including a Dubai-based bank employee, for their involvement in duping hundreds of victims in online share trading scams. The stolen money was funneled through cryptocurrency to Chinese cybercriminals, creating a global nexus of criminal activity.
The investigation began after a businessman from Rahatani reported losing Rs 99 lakh in an online trading scam. The victim was lured into joining a WhatsApp group and encouraged to install a fraudulent trading app that promised up to 300% returns. When the victim was unable to withdraw his supposed “profits,” he realized he had been scammed and promptly reported it to the authorities.
As the police probe deepened, they traced the scam to Mahadev Katke, a used car dealer from Navi Mumbai, who was found to be managing mule accounts. Further questioning revealed that seven others from Mumbai and Pune were also involved in the fraudulent network.
The arrested individuals include:
Masood Alam Siddique and Mohammad Afzal Salmani, Tausaif Sayyed, Pranav Dalvi ,Danish Sathi
The suspects used a network of mule bank accounts, often opened by relatives or acquaintances, who were paid commissions for facilitating the illegal transactions. The money was siphoned off from the victims’ accounts and channeled internationally via cryptocurrency, making it difficult to trace.
The operation was led by DCP Crime Sandeep Doiphone and ACP Vishal Hire, with support from Inspector Ravikiran Nale and other officers. The investigation has exposed a highly organized cybercrime syndicate with international connections, underscoring the growing collaboration between local operatives and global criminal networks.
This case serves as a reminder of the increasing sophistication of cybercrime and the need for vigilance in the face of fraudulent online schemes, particularly in the realm of cryptocurrency and online trading.
