Mumbai, Nov 4 (PTI) Police have arrested three men from Nagpur in connection with a share trading investment scam, uncovering

Mumbai, Nov 4 (PTI) Police have arrested three men from Nagpur in connection with a share trading investment scam, uncovering

Mumbai, Nov 4 (PTI) Police have arrested three men from Nagpur in connection with a share trading investment scam, uncovering

Mumbai, Nov 4 (PTI) Police have arrested three men from Nagpur in connection with a share trading investment scam, uncovering their involvement in at least 73 cyber fraud cases across the country, including six in Mumbai, an official said on Wednesday.

The South Cyber Police Station of the Mumbai Crime Branch, which made the arrests, seized chequebooks and passbooks of 11 bank accounts, 25 SIM cards, debit cards, QR codes, and rubber stamps of 11 shell companies created to route defrauded funds from the trio, the official said.

According to the police, a case was registered on September 9 following a complaint by a man who was allegedly duped of Rs 58.72 lakh between June 10 and September 8.

The victim was lured by a woman named Meera Iyer and her associates with the promise of high returns on share trading investments, inducing them to deposit Rs 58,72,410 into various accounts, they said.

Based on the complaint, an FIR was registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS), including cheating, forgery, and criminal conspiracy, along with sections of the Information Technology Act.

During the probe, technical analysis and data from the National Cyber Crime Portal revealed that Rs 24.75 lakh of the defrauded money had been transferred into a current account at the Central Bank of India's Jaripatka branch in Nagpur, registered under the name of a shell company, 'Grain Garden Delights Pvt Ltd'.

Further investigation led the Mumbai cyber police to Nagpur, where they arrested three accused on Monday.

The arrested people have been identified as Amit Diliprao Kale (34), the alleged mastermind of the fraud, Rithik Shailesh Dhargave (25), and Aniruddha Satish Uke (30), all residents of Nagpur.

Investigators found that Kale and Uke had set up Grain Garden Delights Pvt Ltd using Dhargave's credentials and a forged rent agreement to open the current bank account. Kale allegedly used a SIM card registered in Dhargave's name on his mobile device to communicate with accomplices and coordinate the online transfer of fraud proceeds, said police.

(This story has not been edited by THE WEEK and is auto-generated from PTI)