West Region Cyber Police have arrested three men for allegedly aiding an investment fraud that cheated an ex-employee of a top mutual fund company of over Rs 2 crore. The accused provided and supplied bank accounts to fraudsters, which were used to park money obtained from the victim through cheating.
The arrested individuals are:
Dheeraj Chavan (21)
Yuvaraj Teli (27)
Uday Bindu Phartale (37)
Police said Chavan and Phartale were first-layer account holder beneficiaries, meaning their accounts directly received the stolen funds. About Rs 6.4 lakh was transferred to Chavan’s account and Rs 8.4 lakh to Phartale’s. Teli allegedly acted as the account supplier, offering Rs 3,000 each to Chavan and Phartale to hand over their bank account kits.
The crime occurred between June 5 and August 11. The complainant reported that he saw a Facebook advertisement about share trading and was added to a WhatsApp group. He was asked to download a trading app and transferred money in 27 transactions to various accounts provided by the accused. The victim realized the fraud when he attempted to withdraw his funds and profits.
Police further revealed that one of the accounts used in the scam had 16 separate complaints of cyber cheating linked to it. Investigations are ongoing to identify other beneficiaries and accomplices.
