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Time of India
2 days ago
- Business
- Time of India
Police bust local network of operatives running online share market fraud, arrest 5 men in 10 days
1 2 3 Pune: The city cyber police have dismantled a local network of operatives running an online share market fraud after the arrest of five men, including two Nepal nationals, from the Shivajinagar, Dhayari and Sinhagad Road areas in the last 10 days. The arrested men have been identified as Aniket Prashant Bhadle (27) of Shivajinagar, Sagar Machhindra Gaikwad (26) of Sinhagad Road, Shivtej Ashokrao Gunjkar (33) of Ambegaon Pathar, and Nepali nationals Norbu Sherpa (28) and Ang Nuri Sherpa (21). A team headed by additional commissioner of police (crime) Pankaj Deshmukh and inspectors Swapnali Shinde and Sangeeta Devkate made the first arrest on June 22; they later arrested the four others. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune According to the police, the two Nepali nationals were arrested from a hotel room near Navale Bridge. The prime suspects in the case, a man and a woman, are on the run. They were operating from an office on Sinhagad Road and a scrap company in Shivane. "The duo ran eight different companies in the city and took over 20 current bank accounts on a commission basis from many people," Devkate informed. Police arrested the suspects while probing an online share market fraud case registered on April 19 this year, in which a retired person (60) was duped of Rs60.20 lakh by online fraudsters with the lure of handsome returns on his investment in the trade of online shares. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Devkate informed, "We established a money trail and realised that a sum of Rs14.30 lakh was transferred to a current bank account. It is a mule bank account in this case. We found out that this account was operated by the suspects based in Pune." She added, "Based on the leads, we raided a flat in Dhayari and recovered many articles. From there, we came to know about Bhadale. Bhadale's current bank account was used by the prime suspects to cheat the victims. We questioned Bhadale and studied his online activities, and then we arrested the other suspects in the case." According to the officer, "A study of these 20 current bank accounts on the national cybercrime portal revealed that these accounts have been used in over 600 different online share market fraud cases across India. With these arrests, we managed to crack down on the local operatives of the share market fraud cases. We not only busted the online share market app used by the suspects, but also the messaging app group used by fraudsters to cheat victims. " The police informed that the men from Nepal were operating the messaging app group to lure the victims to make investments. Police have seized 10 mobile phones, 10 pen drives, one bank swipe machine, four laptops, 53 debit cards of various banks, 174 SIM cards of various companies, 55 cheque books, one CPU, 39 stamps of various companies, two routers, 27 blank cheques of various banks, four hard disks, seven CDs/DVDs, 27 QR codes, and a DVR after raiding flats and offices during this investigation. Pune: The city cyber police have dismantled a local network of operatives running an online share market fraud after the arrest of five men, including two Nepal nationals, from the Shivajinagar, Dhayari and Sinhagad Road areas in the last 10 days. The arrested men have been identified as Aniket Prashant Bhadle (27) of Shivajinagar, Sagar Machhindra Gaikwad (26) of Sinhagad Road, Shivtej Ashokrao Gunjkar (33) of Ambegaon Pathar, and Nepali nationals Norbu Sherpa (28) and Ang Nuri Sherpa (21). A team headed by additional commissioner of police (crime) Pankaj Deshmukh and inspectors Swapnali Shinde and Sangeeta Devkate made the first arrest on June 22; they later arrested the four others. According to the police, the two Nepali nationals were arrested from a hotel room near Navale Bridge. The prime suspects in the case, a man and a woman, are on the run. They were operating from an office on Sinhagad Road and a scrap company in Shivane. "The duo ran eight different companies in the city and took over 20 current bank accounts on a commission basis from many people," Devkate informed. Police arrested the suspects while probing an online share market fraud case registered on April 19 this year, in which a retired person (60) was duped of Rs60.20 lakh by online fraudsters with the lure of handsome returns on his investment in the trade of online shares. Devkate informed, "We established a money trail and realised that a sum of Rs14.30 lakh was transferred to a current bank account. It is a mule bank account in this case. We found out that this account was operated by the suspects based in Pune." She added, "Based on the leads, we raided a flat in Dhayari and recovered many articles. From there, we came to know about Bhadale. Bhadale's current bank account was used by the prime suspects to cheat the victims. We questioned Bhadale and studied his online activities, and then we arrested the other suspects in the case." According to the officer, "A study of these 20 current bank accounts on the national cybercrime portal revealed that these accounts have been used in over 600 different online share market fraud cases across India. With these arrests, we managed to crack down on the local operatives of the share market fraud cases. We not only busted the online share market app used by the suspects, but also the messaging app group used by fraudsters to cheat victims. " The police informed that the men from Nepal were operating the messaging app group to lure the victims to make investments. Police have seized 10 mobile phones, 10 pen drives, one bank swipe machine, four laptops, 53 debit cards of various banks, 174 SIM cards of various companies, 55 cheque books, one CPU, 39 stamps of various companies, two routers, 27 blank cheques of various banks, four hard disks, seven CDs/DVDs, 27 QR codes, and a DVR after raiding flats and offices during this investigation.
Business Recorder
3 days ago
- Business
- Business Recorder
Merit Packaging approves major asset sale to Kompass Pakistan
Shareholders of Merit Packaging Limited (MPL) have approved the sale of major assets, including the plant and machinery of its flexible packaging unit and associated goodwill, for a total consideration of Rs1 billion. The listed company, engaged in the manufacture and sale of printing and packaging materials, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. The decision was passed during an Extraordinary General Meeting (EGM) held on June 27, 2025. The buyer, Kompass Pakistan (Private) Limited, submitted the best available offer, which was accepted by the company following due evaluation, MPL said. 'The consent of shareholders be and is hereby accorded to the disposal and sale of the Company's assets comprising of plant and machinery (flexible packaging unit) and goodwill located at 17-B, Sector 29, Korangi Industrial Township, Karachi for an aggregate sale consideration of Rs1,000,000,000 based on the best available quote from the interested party,' read the notice. It said that the Board of Directors has been authorised to execute the transaction, including entering into sale agreements, receiving payment, and handling all legal formalities related to the asset transfer. At the time of filing this story, the share price of Merit Packaging Limited was being traded at Rs14.30, an increase of Re0.35 or 2.51%. Incorporated in Pakistan as a public limited company in 1980, MPL is engaged in the manufacturing and sale of printing and packaging materials. The company caters to a wide range of sectors including food & beverages, surgical instruments, consumer goods, textiles, etc. The company belongs to The Lakson Group of companies.
