Bengaluru: Rs 6 crore online investment scam uncovered; 10 Arrested

Team Udayavani, Sep 28, 2024, 10:20 AM IST

Representative image (Credit: iStock)

Bengaluru: In a major breakthrough, police from the Cyber Crime, Economic Offences and Narcotics (CEN) station in the North Division arrested 10 individuals involved in a Rs 6 crore scam under the guise of online jobs and cryptocurrency investment schemes. The accused were operating not only in Bengaluru but across the country.

The arrested individuals were identified as Syed Yahya (32), Umar Farooq (34), Mohammad Maheen (32), Mohammad Muzammil (25), Tejas (35), Chetan (35), Wasim (30), Syed Zaid (24), Sahi Abdul Ana (30), and Om Prakash (30). They are residents of R.T. Nagar, Hebbal, K.G. Halli, and Sampigehalli areas in Bengaluru.

Police Commissioner B. Dayanand, during a press conference, stated that Rs 1.74 lakh in cash, 72 mobile phones, 182 debit cards, 2 laptops, 133 SIM cards, and 127 bank passbooks were seized from the accused.

How the Scam Worked

The police revealed that the group lured victims by promising high returns on online jobs and cryptocurrency trading. On June 20, they contacted a resident of T. Dasarahalli via WhatsApp, offering him an online job. The victim was added to a Telegram group and assigned tasks such as reviewing luxury hotels. Initially, he was asked to invest Rs 150-200, for which he received Rs 400-500 in return.

Encouraged by the returns, the victim was then convinced to invest more money into cryptocurrency trading between June 20 and July 1. The accused siphoned off Rs 25.37 lakh from the victim during this period. Realizing he was being duped, the victim reported the matter to the police, leading to an investigation and subsequent arrests.

China Connection Suspected

The investigation has revealed that three of the main accused, Syed Yahya, Umar Farooq, and Mohammad Maheen, had travelled to China, where they allegedly made connections with local agents. The police have issued lookout notices for these individuals. The trio was detained at Bengaluru International Airport on September 15 when they attempted to return to India.

Further raids were conducted at an office the accused were setting up in Peenya. Police seized 47 bank passbooks, 48 SIM cards, 31 debit cards, and 9 mobile phones from the office.

Multi-State Operation

The police investigation has uncovered that the group operated not only in Bengaluru but also across 21 states, including Andhra Pradesh, Assam, Bihar, Chandigarh, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal. A total of 126 cases have been registered against them nationwide under the National Cyber Crime Reporting Portal (NCRP).

The accused used forged documents to open multiple bank accounts and obtain SIM cards. They paid commissions to intermediaries who facilitated the purchase of bank passbooks and other credentials. Money deposited in these accounts was shared with the account holders as commissions.