Gandhinagar, August 26: The Cyber Crime Cell in Surat, Gujarat, has arrested two individuals from Maharashtra on Wednesday. They are accused of online investment fraud.
The suspects allegedly lured a resident of Surat through an advertisement on Instagram, defrauding him of ₹9.58 lakh.
According to police, the accused employed a premeditated scheme for this scam. They initially contacted potential investors via Instagram ads and then added them to a Telegram group.
The complainant was reportedly sent a link to a fake website through the group and was persuaded to register and create a demat account.
Police reported that the complainant transferred ₹9,58,998.98 to various bank accounts listed on the website for stock market investments. The platform displayed profits from transactions, showing both the invested amount and returns in the complainant’s demat account.
However, when the complainant attempted to withdraw funds, the withdrawal process failed, revealing the online fraud. A case was subsequently registered at the Cyber Crime Police Station.
Following directives from senior officials, Inspector M.C. Nayak and his team conducted a technical investigation to identify those involved, leading to the arrest of the two suspects.
The arrested individuals have been identified as Uddhav alias Ravi Gondhali (27, decoration worker) and Gopendra alias Gopu Shinde (23, student), both residents of Parbhani district in Maharashtra.
Police allege that Uddhav created a firm in his name and obtained a business certificate to open a current account with the Bank of India (BOI).
Investigators revealed that he handed over this account to Gopendra for a commission of ₹5,000. Later, this account was allegedly made available to absconding suspects for a two percent transaction fee. According to police, a total of ₹1.47 crore was transacted through the current account between September 1, 2025, and January 21, 2026.
A review of the account via the National Cyber Crime Reporting Portal (NCCRP) uncovered 13 complaints from various states, amounting to ₹40.48 crore in fraud.
Authorities have advised the public to be cautious of advertisements promising high returns on stock market investments through social media. They recommend verifying the information of individuals and platforms before engaging in any financial transactions.
Victims of financial cyber fraud have also been urged to call ‘1930’ immediately, as prompt reporting may increase the chances of freezing funds in bank accounts. The Cyber Crime Cell continues its investigation and further actions related to this case.
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