The Vadodara Cyber Crime Police have busted a gang involved in an investment fraud of Rs 1.57 crore and arrested 4 accused. During the police investigation, more than 360 SIM cards were recovered from the accused. These SIM cards were activated in Vadodara and were then used abroad. The accused were found to be helping in the fraudulent activity through WhatsApp OTP.
Fraudulent investment of Rs 1.57 crore
According to the details revealed in the investigation, the gang had committed a total fraud of Rs 1.57 crore in the name of investment. Initially, the fraudsters returned Rs 5.24 lakh against Rs 1.57 crore to win the trust of the investors. In this way, more investment was made by creating trust.
In Vadodara, SIM cards were activated and sent abroad
Details have come to light that the accused have more than 400 SIM cards. The cyber crime police have seized more than 360 SIM cards from them. These SIM cards were activated in Vadodara and were later used in Hong Kong, China and the United States.
WhatsApp used to help in fraud with OTP
The accused used to share their OTPs with other persons after activating the SIM card. Through this OTP, the WhatsApp group was activated and then the fraudulent activity was carried out in the name of investment.
A commission of Rs 1,200 on a SIM card
According to the police investigation, the accused used to get a commission of Rs 1,200 on each SIM card. In this way, they were connected to the fraudulent network by activating the SIM card and sharing the OTP.
Four accused arrested
The Vadodara Cyber Crime Police have arrested Karan Bhashani, Aryan Panchal, Subodh Sharma and Sarvesh Patil in this case. The accused have studied from class 8 pass to graduation. The police have seized more than 360 SIM cards and further investigation is underway on the entire network.
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