Surat, September 29 (Daily Kiran) : The Cyber Crime Branch of Surat has apprehended three individuals from Mumbai in connection with a significant investment fraud case. They are accused of defrauding investors of ₹1.10 crore under the pretense of stock market investments. Authorities discovered multiple complaints against the bank accounts used in this scheme from various states.
The arrested suspects have been identified as Rahul Rajak (27), Ashish Sonar (37), and Bhushan Sendne (34). Police reports indicate that Rajak established a firm, obtained a business certificate, and opened a current account with IDFC Bank, which he later transferred to Sonar for ₹10,000. Sonar subsequently passed the account to Sendne for ₹30,000, who then sold it to another accomplice for ₹20,000.
Between October 18, 2025, and January 9, 2026, transactions totaling ₹2,41,03,506 were processed through this account. Investigations via the National Cybercrime Reporting Portal revealed 29 complaints linked to this account, amounting to alleged fraud of approximately ₹16.13 crore.
Deputy Commissioner of Police (Cyber Crime Cell) Vishakha Jain stated that the three suspects received a total commission of ₹60,000 for providing the bank accounts. The scheme began when the complainant was approached with promises of high returns on stock market investments.
According to police, the suspects sent the victim a fake APK file for an Axis Bank app, claiming to be customer service representatives. They instructed the complainant to download the app, create a demat account, and trade using it. After the account was established, the victim was directed to transfer funds to various bank accounts for trading purposes.
The victim transferred ₹1,10,90,000 but faced obstacles when attempting to withdraw their investment and supposed profits. The fraudsters requested additional funds under various pretexts. Ultimately, the complainant was allowed to withdraw only ₹5,000, while ₹1,10,85,000 remained blocked, leading to the realization of the fraud.
The case has been registered under multiple sections of the Indian Penal Code, 2023, and the Information Technology Amendment Act, 2008. Police are actively searching for additional suspects involved in the fraud. The Cyber Crime Branch has urged the public to be cautious of advertisements promising high returns on online stock market investments and to avoid transferring money to unknown individuals without thorough verification.
Leave a Comment