In a significant breakthrough, the Nashik Rural Police have apprehended two individuals from Kerala in connection with a sophisticated cheating case that swindled victims of approximately ₹3 crore. The accused allegedly operated a fake stock market investment scheme that promised high returns to unsuspecting investors.
The Elaborate Fraud Operation
According to police officials, the duo masterminded an intricate web of deception by creating fake companies and using multiple bank accounts to conceal their illicit activities. The fraud came to light when several victims approached the police after realizing their investments had vanished and the promised returns were never delivered.
Police Investigation Reveals Modus Operandi
The investigation uncovered that the accused used sophisticated communication methods and fake documentation to gain the trust of their targets. "They presented themselves as legitimate investment advisors with access to exclusive stock market opportunities," stated a senior police officer involved in the case.
Cross-State Criminal Network
The arrest highlights the growing trend of inter-state cyber crimes where perpetrators operate from one region while targeting victims in another. The Nashik Rural Police coordinated with authorities in Kerala to track down and apprehend the suspects.
Growing Concern Over Investment Frauds
This case adds to the increasing number of financial fraud cases being reported across Maharashtra and other states. Police authorities have issued warnings about fake investment schemes that promise unusually high returns with minimal risk.
The arrested individuals have been remanded to police custody while investigators continue to unravel the full extent of the fraud network and identify other potential victims and accomplices.
