Major Breakthrough in International Investment Fraud Case
The Ahmedabad cybercrime branch has achieved a significant breakthrough by arresting a key suspect involved in a sophisticated investment scam that defrauded victims of approximately Rs 47.5 lakh. The accused, identified as Arshman Khan Shuk, a 27-year-old resident of Bhavnagar, was allegedly operating as part of an extensive international fraud network with connections to criminal gangs in Dubai and China.
The Elaborate Scam Operation
The investigation was triggered when a victim filed a formal complaint after being deceived through an elaborate online investment scheme. The fraudsters operated through a WhatsApp group named "Popular Mutual Fund Investment Strategy", where they posed as renowned investment experts using fake aliases to gain credibility.
The modus operandi involved convincing potential investors to download a suspicious application called FPIWM and transfer funds with promises of exceptionally high returns. To build trust and create a false sense of security, the scammers initially returned Rs 3 lakh to the victim, making the operation appear legitimate before disappearing with the remaining Rs 47.5 lakh.
International Connections Uncovered
During the detailed investigation, cybercrime officials traced the suspect's location to Bhavnagar and uncovered a complex web of financial transactions. The accused employed multiple bank accounts to launder the fraudulently obtained funds, which were subsequently transferred through hawala networks to conceal the money trail.
Further revelations indicated that Arshman Khan maintained regular contact with an international criminal syndicate operating from Dubai and China. This network is suspected of orchestrating similar investment frauds across multiple Indian states including Gujarat, Tamil Nadu, Rajasthan, Telangana, and Andhra Pradesh.
The investigation has uncovered that a total of 27 cybercrime complaints have been registered against 11 bank accounts used under the name of Junaid Desai. The accused reportedly earned a substantial 25% commission on each fraudulent transaction he facilitated.
International Business Connections
Authorities discovered that Khan's connection to the Chinese gang was established during his frequent business trips to Dubai, where he was engaged in scrap trading operations. These international travels provided him with the opportunity to build relationships with overseas criminal elements and coordinate the sophisticated fraud scheme.
The Ahmedabad cybercrime team continues its investigation to identify and apprehend other members of this international fraud network. Authorities have warned citizens to exercise extreme caution when approached with unsolicited investment opportunities through social media platforms and messaging applications.
