The Central Region cyber police station at Worli recently apprehended a 38-year-old man from Udaipur, Samarth Vijay Sinh, who allegedly cheated individuals out of a total of Rs 1.17 crore through online share trading schemes. The money defrauded in these cases was transferred to multiple bank accounts, including one linked to a company.
Samarth Vijay Sinh allegedly received a commission for allowing the use of his bank account in the fraudulent transactions. Police were investigating a case where a 49-year-old government employee had filed an FIR on April 19, claiming to have been cheated of Rs 17.4 lakh. According to the complaint, the victim saw an online ad for share trading on Facebook and, after showing interest, was added to a WhatsApp group named “Goldman Stock Compass,” where other members shared trading profits and losses.
The accused then directed the victim to download an app, GSIN, which allowed him to create a virtual account. The victim began investing his money, as well as funds from friends. As his account balance grew to Rs 40 lakh, the victim tried to withdraw his profit but was unable to access the funds, and his virtual account was deleted. This led him to approach the police.
Investigators traced one of the bank accounts used in the fraud, which was linked to a company. The police learned that the same account had been used in three other fraud cases, amounting to a total of Rs 1 crore, leading them to Samarth Vijay Sinh.
In a separate case, two other individuals, Uday Singh (46) and Sanjay Verma (34), both from Jaipur, were arrested in connection with a part-time job fraud. They allegedly lured a complainant into investing Rs 18.31 lakh to buy task jobs like reviewing brands. Police discovered that the money was sent to a company account, which was later found to be a shell company. Both accused were subsequently arrested.
These cases are being further investigated by a team led by Senior Inspector Mousami Patil, under the supervision of DCP Datta Nalawade.
