Frauds : Maharashtra Cyber Police Uncover Rs 6 Crore Online Trading Scam

 


The Maharashtra cyber police have uncovered a cyber fraud operation and arrested three individuals in Kolhapur and Rajasthan, allegedly involved in a scam where Rs 46 lakh was taken from a Mumbai resident. Investigations revealed that fraudulent accounts connected to the suspects received a total of Rs 6 crore nationwide. Authorities are now pursuing the alleged ringleader, Vivek Verma, who reportedly persuaded a businessman from South Mumbai to invest in the stock market, directing him to a deceptive website.


The case, one of significant scale, exposed a sophisticated online trading scam involving multiple arrests and substantial financial losses exceeding Rs 6 crore. Verma, identified as the mastermind, along with his associates, allegedly operated through a fraudulent application called "Sharekipo," which was used to lure victims with promises of high returns on investments.


According to the initial investigation by the state cyber police, Verma and his team contacted potential victims through WhatsApp, sharing links to download the fake "Sharekipo" app. Victims were misled into believing they would gain large profits, but their funds were instead diverted into multiple accounts nationwide for personal gain.


The probe intensified after a 62-year-old retired chief engineer from Punjab lodged a complaint, reporting a substantial financial loss. He alleged that the scammers influenced him to invest large sums, which were then funneled through various bank accounts and crypto exchanges, including transactions on the Binance platform.


Police reports identify suspects Abdul Wahab, Rohit Jathar, and Piyush Kumawat as key operators. Wahab allegedly converted funds from dollars to rupees before transferring the money to Jathar's accounts, which was later withdrawn through ATMs.


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