By Trend News Line 2024-06-18 07:43:36.
The Mumbai Cyber Police Arrest a Painter for Duping a Retired Financial Professional
In a recent development, the Mumbai crime branch’s cyber police have apprehended a 51-year-old painter from Ghatkopar for his alleged involvement in a financial scam. The victim of this fraudulent scheme is a 71-year-old retired financial professional who was duped of nearly Rs 2 crore under the guise of investing in the stock market.
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Fraudulent Tactics and Deception
The police revealed that the fraudsters had gone to great lengths to deceive the victim. They even went as far as creating a fake application resembling a reputable investment company to entice individuals into investing with them. The victim fell prey to their tactics and invested a substantial amount between January 8 and March 7 this year.
Elaborate Ruse and Manipulation
According to the investigating officer, the con artists initially contacted the victim in December through WhatsApp. A woman named Gayatri Devi claimed that their company had expert knowledge of the stock market and could help the victim earn lucrative returns. The victim was added to a WhatsApp group with over 150 members who would post messages boasting about their significant earnings.
Financial Exploitation and False Promises
The victim was persuaded to make numerous transactions totalling Rs 1.98 crore into the fraudsters’ bank accounts. The fraudsters maintained the victim’s trust by updating his profile on the fake application to reflect false earnings of Rs 14 crores. However, when the victim attempted to withdraw some of his money, the fraudsters demanded additional payments under the guise of taxes, raising suspicions.
Discovery of Deception and Legal Action
Upon visiting the company’s office, the victim discovered the deception and promptly lodged a complaint with the central cyber police station in March. Subsequent investigations led to the filing of a case under relevant sections of the Indian Penal Code and Information Technology Act. The police traced the money withdrawals to locations in Assam, Tamil Nadu, and Jharkhand, ultimately leading to the arrest of the painter from Ghatkopar.
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Unravelling the Conspiracy and Arrest
During interrogation, the accused, identified as Surendra Surve, disclosed that he had unwittingly become involved in the scam. He had responded to a job advertisement posted by the fraudsters, who then used his bank account to facilitate their fraudulent activities. Despite receiving some payment, Surve’s complicity in the crime led to his arrest by the authorities.
Continued Investigation and Pursuit of Mastermind
The police are actively working to identify and apprehend the mastermind behind this elaborate financial scam. The investigation is ongoing, with efforts focused on bringing all those involved in the deception to justice and preventing similar incidents in the future..
– retired financial professional
– stock market fraud in Mumbai.
