Maharashtra Cyber Police have uncovered a massive ₹58-crore online scam, arresting five individuals involved in laundering ₹15.25 crore through fake investment platforms. This operation marks one of the state’s biggest recent cybercrime crackdowns and underscores the growing threat of digital financial fraud in India.
Fraudsters Used Investment Schemes to Trap Victims
Investigators revealed that the group lured victims through social media and messaging apps, offering quick profits on cryptocurrency and stock investments. The suspects convinced people to deposit money into several bank accounts that appeared legitimate at first glance.
However, as soon as victims transferred funds, the scammers quickly rerouted the money through multiple bank accounts and crypto wallets, making it difficult to trace. Eventually, victims lost all contact with the operators once the transfers were complete.
Police Trace Network Across Multiple States
The investigation began when several victims reported similar frauds to the Maharashtra Cyber Police. Acting on these complaints, the department launched a coordinated operation across Mumbai, Pune, and Thane, which later expanded to Delhi, Gujarat, and West Bengal.
During the probe, police discovered that the group had created fake bank accounts using forged KYC documents. Evidence also showed connections to a larger interstate syndicate, possibly with overseas links.
Arrests Lead to Key Evidence and Seized Funds
The five arrested individuals include two bank employees, a digital marketer, and two crypto handlers. Police seized laptops, mobile phones, SIM cards, and banking records, uncovering clear patterns of organized money movement.
So far, authorities have frozen ₹15.25 crore in various accounts. They are now tracking the rest of the stolen money, believed to have been diverted through international channels.
Officials Warn Citizens Against Online Scams
Speaking about the case, Cyber Superintendent Sanjay Shintre urged the public to remain alert. “Fraudsters constantly evolve their tactics. Always verify online investment platforms before sending money,” he said.
Maharashtra Cyber Police plan to launch new campaigns focused on safe digital banking and online transaction security. With digital scams becoming increasingly sophisticated, authorities emphasize that vigilance is the best defense.
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