Rajkot, July 4 : In a major breakthrough, Rajkot Cyber Crime Police have uncovered a large-scale online investment scam and arrested two individuals from West Bengal involved in defrauding people through a fake share market investment app. The scam involved siphoning off around Rs 7.5 crore from at least 45 victims across India, all of which was funneled into a single bank account.
As per agency report, the arrests were made following an in-depth investigation by Cyber Crime Police Inspector M.A. Jhankat and ASI Vivekbhai Kuchhadia. The accused, identified as Sovan Sunil De (42) and Somnath Laxman Manna (33), are residents of West Bengal. They allegedly rented a bank account from a Vadodara-based individual named Iftikhar, who had opened the account under a bogus firm named "SR Trading."
The investigation revealed that the accused lured Iftikhar to West Bengal and accommodated him in a hotel. His bank account was then used to collect fraudulent proceeds generated by a nationwide cybercrime network. In one such instance, a victim from Rajkot was defrauded of Rs 16.67 lakh, out of which Rs 4 lakh was transferred to this account.
Further probe showed that the same bank account had been used to launder a total of Rs 7.5 crore extracted from nearly 45 victims across the country. The arrested individuals admitted to renting out such bank accounts to cybercrime syndicates in exchange for a commission of 1% on the transactions.
Police have also identified another key suspect in the case, also a resident of West Bengal, who remains at large. Efforts to trace and apprehend this prime accused are currently underway. After securing a one-day police remand, the two arrested individuals have now been placed in judicial custody.
This case highlights the growing menace of well-organized cyber frauds operating under the guise of online investment schemes. The cybercrime police have issued an advisory urging citizens to exercise caution and verify the authenticity of any investment-related mobile applications or offers before transferring funds.
