Mumbai Cyber Police Arrest Trio for Rs. 2.85 Crore Investment Fraud

Three men were arrested by Mumbai Crime Branch for defrauding an elderly woman of Rs. 2.85 crore through fake share market investment returns. The suspects operated 130 fraud cases nationwide with 70 bank accounts, and they have been remanded in police custody till December 17.

The Mumbai Crime Branch has apprehended three individuals accused of defrauding an elderly woman out of Rs. 2.85 crore. The suspects promised lucrative returns on share market investments, according to a police official's report on Monday.

Identified as Sheshnath alias Ganesh Shatrughna Pandey, Satish Punamia, and Rahul Bachchan, the accused were captured in Diu-Daman, Gujarat, and Mumbai. Authorities revealed their involvement in 130 fraud cases across India, including cities like Mumbai, Thane, Mira-Bhayander, and Vasai-Virar.

The fraudsters allegedly operated 70 bank accounts to facilitate their scams and used these accounts to launder money from online deception on a commission basis. They lured the victim with WhatsApp messages and a fake investment website, promising market insights. The trio is in police custody until December 17.

(With inputs from agencies.)