The Southeast Division CEN police have arrested four individuals involved in a sophisticated online investment scam that exploited students’ bank accounts to defraud victims of Rs12.43 lakh. The accused, identified as Abhay Daan Charan (19), Aravind Kumar (19), Pawan Bishnoi (18), and Sawai Singh (21), were arrested in Bengaluru and Udaipur, Rajasthan.
The scammers lured victims by promising lucrative part-time job opportunities, initially offering small returns to build trust. However, once the victims invested larger sums through online platforms, the fraudsters siphoned off the funds, leaving the victims with significant losses. A complaint from one such victim, who lost Rs12.43 lakh, led to the arrests.
Investigations revealed that the accused had opened multiple bank accounts using students’ names to facilitate the scam and launder the stolen money. Two of the suspects were apprehended in Udaipur, Rajasthan, while the remaining suspects were arrested from a paying guest accommodation in Bengaluru’s Bommanahalli area.
During the operation, police seized a large number of items, including 19 mobile phones, 2 laptops, 20 SIM cards, 34 bank passbooks, 106 credit and debit cards, 39 chequebooks, and Rs75,000 in cash. Authorities are continuing their investigation, working to identify additional victims and recover any further stolen funds.
The police have warned the public to be cautious of online investment schemes and offers of part-time jobs that promise high returns with little effort. Investigations are ongoing to track the full extent of the scam and its network.