Cyber Crime

CYBER SLAVES: International Cybercrime Ring Targeting Investors Exposed

India Crime News Desk

New Delhi, 27 September 2023

Indian authorities have successfully dismantled a sophisticated cybercrime syndicate operating across international borders.

This criminal network, with connections in Dubai and the Philippines, preyed on unsuspecting investors through a meticulously crafted online scam.

Modus Operandi: Fake Companies and Luring Investments

The elaborate scheme hinged on the creation of fictitious companies. The arrested individuals, identified as Vivek Kumar Singh (33), Manish Kumar (23), Suhel Akram (32), Gaurav Sharma (23), and Balram (32), allegedly used forged documents to establish fake bank accounts for these shell companies.

Their strategy involved targeting individuals through messaging platforms like WhatsApp. They would lure victims with the promise of high returns on investments in a specific app.

Initially, they’d gain trust by offering small returns on a minimal investment. However, this was merely a ploy to entice victims into investing larger sums.

A Single Complaint Sparks an Investigation

The cybercrime syndicate’s web of deceit unraveled when Ashish Agrawal, a victim, filed a complaint through the national cybercrime reporting portal in June. Agrawal reported being duped of a staggering Rs 30 lakh (approximately $37,000 USD) after being initially offered a small return on a smaller investment.

Following the Money Trail: Uncovering the Network

Authorities launched a thorough investigation upon receiving Agrawal’s complaint. This initial inquiry revealed that the stolen funds had been transferred across a network of 25 bank accounts scattered across various cities and banks. These accounts then funneled the money further, with one account even established under the guise of a reputable company.

Cracking the Case: Raids and Arrests

Further investigation identified a specific address where the seemingly legitimate company, used to mask a fake account, had rented office space.

This crucial lead led police to Suhel Akram, responsible for securing these rental spaces, and Gaurav Sharma, who allegedly worked alongside him.

A raid conducted on September 18th at Malviya Nagar resulted in the apprehension of both Akram and Sharma. Incriminating evidence, including forged stamps, bank account details, and debit cards, were seized from them.

Confessions from Akram and Sharma solidified their involvement in the fraudulent scheme.

International Connections Revealed

As the investigation progressed, a more intricate picture emerged. Interrogation of the accused revealed the use of rented spaces and forged documents to establish the shell companies.

Vivek Kumar Singh, believed to be the mastermind, confessed to working with associates based in Dubai and the Philippines.

He allegedly received a commission of 3-4% on the total transactions, further sharing 1.5% with Akram.

Justice Served, But Fight Continues

The apprehension of these five individuals marks a significant victory for Indian law enforcement in their fight against cybercrime.

However, this case also highlights the evolving nature of these criminal enterprises, often operating across international borders.

Continued vigilance and international cooperation are crucial for dismantling such sophisticated cybercrime rings and protecting the public from their deceptive tactics.


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