Deoghar: The Criminal Investigation Department (CID) has arrested Yashwardhan Kumar in connection with a Rs44 lakh cyber investment fraud that spanned multiple Indian states. The arrest was made on Thursday, with Kumar being remanded to jail on Friday, according to CID officials.
The accused allegedly operated a fraudulent scheme using a fake trading application named Cantillon, which lured victims with promises of high returns. Victims were added to WhatsApp groups where they were instructed to transfer money into various bank accounts under the pretense of investing in trading opportunities.
“The Cantillon app showed fake profit dashboards to users, but funds could not be withdrawn,” the CID said. A formal complaint was filed, and a case was registered on August 13 at the CID Cybercrime Police Station under relevant sections of the Bhartiya Nyaya Sanhita and the Information Technology Act.
CID investigators traced the financial trail of these transactions, which led to Kumar’s arrest. His Bank of Baroda account was reportedly linked to 46 complaints filed via the National Cyber Crime Reporting Portal from victims across 15 states, including Jharkhand, Tamil Nadu, Maharashtra, Karnataka, Delhi, and Gujarat.
The CID emphasized public caution, warning citizens to avoid investing via unverified apps, websites, or Telegram/WhatsApp groups offering guaranteed profits or insider tips.
The investigation into the inter-state fraud network is ongoing.
