The Puducherry Cyber Crime Police have dismantled a scam worth over ₹56 crore, arresting seven individuals who cheated investors through a fake online trading application. The accused operated under the guise of a software development company, running centers in Bengaluru and Neyveli, both of which were sealed by police on Saturday. A range of vehicles, electronic equipment, and relevant documents were seized during the operation, while the search continues for additional key suspects.
According to police, M. Kokila (36), a resident of Lawspet, Puducherry, was seeking online trading opportunities when she was contacted by individuals posing as representatives of Global Software and Alogomaster Trading Company. They assured her she could earn substantial profits by using their automatic robotic software for online trading. Believing their claims, Kokila purchased the software and made multiple payments totaling Rs18,05,556 through UPI and bank transfers. When no returns materialized, she attempted to reach out to the company.
After failing to make contact, Kokila lodged a complaint with the Puducherry Cyber Crime Police by the end of June. Following an initial inquiry, a case was registered on July 1 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, 2000. Investigations revealed that the suspects were operating from Bengaluru and Neyveli.
Under the direction of Senior Superintendent of Police R. Kalaivanan, a team led by Superintendent of Police A. Bascarane conducted further investigations. On Saturday, the team arrested the seven suspects in Bengaluru after sealing their center, while another team sealed the center in Neyveli.
The arrested individuals have been identified as Thupaik Ahamed, Praveen, Jagadish, Ansari Muhammad, Ramachandran, Premises Anand, and Vimal Raj. Police records indicate that this group has been running call centers in multiple countries, including India, Dubai, Hong Kong, and Thailand, since 2014, employing over 200 people to perpetrate their scams. Their operations were reportedly headquartered in Dubai, with Nawshad Khan Ahamed from Neyveli identified as the mastermind. His wife, Sowmya, owned a call center in Namakkal, while the main culprit, Tubail Ahamed, is a Dubai citizen.
The police are currently searching for additional suspects, including five individuals in Dubai. Over the last nine months, Rs56 crore was fraudulently obtained from just three bank accounts, with Rs27 crore already frozen across various accounts in India.
Authorities seized four luxury cars, a van, a motorbike, credit and debit cards, bank passbooks, cheque books, staff certificates, mobile phones, personal computers, and electronic equipment used in their operations. The accused had also reportedly purchased bungalows in Bengaluru and resorts in Yercaud, Puducherry, and Kodaikanal using funds from the scam.
SSP Kalaivanan emphasized the importance of public vigilance, urging individuals not to trust investment advertisements on social media. The investigation continues to determine whether the 1,56,346 individuals whose details were found in the suspects’ possession were also victims of fraud.
