The Puducherry Cyber Police have successfully dismantled a major online fraud operation that defrauded investors across India, leading to the arrest of seven individuals involved in the scam. The operation involved a fraudulent investment scheme run through websites such as Global Software Solution, Algo Master Trading, and Gleam Global Services, which promised high returns on automated trading software.
Senior Superintendent of Police (Crime & Investigation), R. Kalaivanan, confirmed that the investigation revealed 64 bank accounts connected to the fraudulent operation, through which a staggering Rs56 crore was transacted over a period of nine months. During the raid, the police seized over 50 computers, luxury vehicles, a high-end motorcycle, and numerous credit and debit cards. The funds generated by the fraudsters were used to purchase luxury bungalows in Bengaluru and resorts in Yercaud, Puducherry, and Kodaikanal.
Investigators believe that 1,57,346 potential victims across India have been affected by the fraudulent scheme. These individuals were duped into investing large sums in the scam, which promised returns via robotic trading software. Kokila, a local resident and the complainant, was one of the victims who signed up for the Global Software Solution Trading Company and was subsequently convinced to invest in the software. After initially paying for the software, she was asked to make additional payments totaling Rs18 lakh for trading, but never saw any returns and was unable to contact the fraudsters.
After realizing she had been defrauded, Kokila filed a formal complaint with the Puducherry Cyber Crime Police, which led to an investigation and the filing of charges under sections 318(4), 319(2) BNS, and Section 66 D of the IT Act, 2000.
The investigation, which took place over the course of two months, involved advanced technology to track bank transactions and analyze digital communications. This eventually led the police to locations in Bengaluru and Neyveli, where the fraud operation was linked to an international network.
On August 31, a special team, led by B.C. Keerthy, successfully raided locations in Bengaluru, where they arrested the primary suspects: Thufail Ahmed, Praveen, Jagadish, Ansar Muhammad, Ramachandran, Vimal Raj, and Prem Anand.
The investigation also uncovered that the scam network had been operating from multiple call centers across India since 2014, using international internet connections to avoid detection. These call centers were strategically placed in locations different from their official addresses to mislead investigators.
Nawshad Khan and Tufail Khan from Neyveli have been identified as the key orchestrators behind the scam. The police are currently searching for five additional suspects who remain at large. Investigators are also in the process of contacting the 1.57 lakh victims identified through the fraudulent websites to assess the extent of their losses.