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Hindustan Times
03-08-2025
- Hindustan Times
Cyber cell busts ₹54.6 lakh online fraud
The cyber cell of the Pimpri-Chinchwad police has uncovered a major online fraud racket in which cybercriminals duped a local businessman of ₹54.60 lakh by impersonating a well-known finance YouTuber. Five individuals have been arrested in connection with the case. Police said the victim had come across an online advertisement that falsely used a YouTuber's video and voice, promoting a trading opportunity. (REPRESENTATIVE PIC) The accused have been identified as Poonam Jain and Ganesh Dhole, both residents of Madhya Pradesh, along with Rajesh Kushwah, Pradeep Kuma Ken, and Harshit Ghotan from Delhi. According to Assistant Police Inspector Pravin Swami, the accused allowed their bank accounts to be used for laundering the defrauded funds, which were later converted into cryptocurrency (USDT) and transferred to cybercriminals based overseas. Police said the victim had come across an online advertisement that falsely used a YouTuber's video and voice, promoting a trading opportunity. Upon clicking the ad, he was added to multiple WhatsApp groups and was asked to download a fraudulent trading app. Believing it to be genuine, the victim invested ₹54.60 lakh and was shown fake profits amounting to ₹2.52 crore. When he tried to withdraw the amount, he was asked to pay various charges. Sensing foul play, he lodged a complaint with the cyber police. Investigations revealed that the amount was routed through several accounts, including those in IDFC Bank, Yes Bank, and Bank of Maharashtra. Poonam Jain had opened seven bank accounts under the name Mahavir Enterprises and used four of them to transfer the defrauded money. Based on technical analysis, the police tracked down the remaining accused from Delhi and seized several mobile phones, ATM cards, and a cheque book used in the crime. Police are now working to trace the international cyber network behind the scam.
Time of India
02-08-2025
- Business
- Time of India
Five held in 54.6L share-trading fraud
Pune: The Pimpri Chinchwad police's Cybercrime branch has arrested five individuals in connection with a share-trading scam, where a victim was allegedly cheated out of Rs 54.60 lakh. The accused used mule bank accounts to launder the illicit funds, depositing and withdrawing money from various locations. Police identified the accused as Poonam Jain (42) and Ganesh Dhole (28) from Madhya Pradesh, Rajesh Kushwaha, Pradip Kane and Harishid Ghotan from New Delhi. "We have found that these suspects diverted money into various bank accounts and later withdrew it. These bank accounts are in Madhya Pradesh and New Delhi. We sent our teams to these places and arrested them," an officer said. Police said the prime accused, operating under the guise of a lucrative stock trading platform, lured victims with promises of high returns before siphoning off their funds. "One complainant alone was defrauded of Rs 54.6 lakh after being manipulated into repeatedly investing via an app between July 2 and 9. The complainant initially deposited a small amount, which appeared to yield returns. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Global Indices Are on the Move — Time to Trade! IC Markets Learn More Undo Encouraged by these fake profits, he continued investing until the app stopped functioning and his access was blocked," the officer said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Investigations showed that the accused created multiple shell firms and bank accounts to launder the funds. Police have frozen suspicious bank transactions and are tracking down digital footprints linked to the suspects. "The accused projected his trading app as a legitimate one using sophisticated online marketing. Many investors were sent fake dashboards showing growing profits. But once large sums were deposited, the app would become inaccessible or crash entirely," the officer said. "Those who believe they may have fallen victim to similar scams are urged to contact the Pimpri Chinchwad Cyber Police," deputy commissioner Shivaji Pawar said. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
