Film producer arrested in Erandwane for providing mule account to facilitate online share-trading fraud
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Pune: The Pimpri Chinchwad cyber police on Sunday arrested a 34-year-old film producer from Erandwane in connection with an online share-trading fraud, in which a software engineer had lost Rs57.7 lakh to cybercrooks between Feb and May this year.
Police investigations revealed that the accused, Shivam Sanvatsarkar, gave his bank account to a China-based handler to use as a mule bank account for some commission.
The Pimpri Chinchwad cyber police team, led by senior police inspector Ravikiran Nale, took Sanvatsarkar into custody with the help of the Deccan Gymkhana police.
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In this case, the software engineer came in contact with the crooks through a video-sharing app earlier this year.
They promised him good returns on his investments in stocks through them and made him download an app to monitor his profits.
The techie invested Rs57.70 lakh and could see in the app that he had purportedly earned a profit of Rs5.15 crore. When he tried to withdraw his money, the crooks demanded an additional amount to clear the funds, making him suspicious. He then approached the Pimpri Chinchwad cyber police and lodged a complaint.
Assistant police inspector Pravin Swami of the Pimpri Chinchwad cyber police told TOI that during investigations, it was found that some amount stolen in the fraud was transferred to a firm's bank account in Pune. "Police sub-inspector Sagar Poman and team traced the account holder, Sanvatsarkar, to Erandwane and took him into custody," said Swami.
The officer said Sanvatsarkar has produced a few Marathi films. Initially, he denied his involvement in any fraud. "During sustained questioning, he admitted to providing his bank account to a crook from China. Sanvatsarkar got this idea from his friend, who earned a commission by giving his bank account as a mule account," said Swami.
The accused came in contact with his handler from China through a social media platform. "He was preparing to give two more mule bank accounts to his handler. We took him into custody before he could do this," the API said.
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