In a significant crackdown on digital financial fraud, the Cyber Crime Police of Thiruvananthapuram city has successfully arrested a 25-year-old man from Gujarat for allegedly cheating a local doctor of a staggering Rs 1.11 crore. The arrest was made in Ahmedabad, following a complex investigation that traced the movement of the defrauded money through cryptocurrency wallets.
The Modus Operandi: Fake Promises and Digital Transfers
The accused, identified as Parmar Pratik Bipinbhai, a resident of Bapunagar in Ahmedabad, reportedly lured the medical professional with promises of high returns through online trading. The initial contact and subsequent communication between the fraudster and the victim were conducted entirely through popular messaging platforms WhatsApp and Telegram.
Pratik Bipinbhai instructed the doctor to transfer funds directly to specified bank accounts. Once the money was received, the accused swiftly executed a multi-layered laundering process. The investigation revealed that the defrauded amount was first converted into cryptocurrency and moved to various digital wallets. This digital trail was then used to convert and smuggle the funds out of the country, complicating the recovery process.
Tracking the Digital Trail to Ahmedabad
The breakthrough in the case came after a meticulous examination of the bank transaction records. Police confirmed that the entire sum of Rs 1.11 crore was transferred into accounts controlled by the accused. This financial footprint led the special investigation team to focus their probe on Ahmedabad and its surrounding areas.
A dedicated team, led by Assistant Commissioner Prakash K S, and comprising Inspector Shameer M K, Senior CPO Anil Kumar, and CPO Vipin, with crucial technical support from Abhijith and Balu, conducted the on-ground operation in Gujarat. Their efforts culminated in the arrest of Parmar Pratik Bipinbhai.
Legal Proceedings and Remand
Following his arrest in Ahmedabad, the accused was brought to Thiruvananthapuram to face legal proceedings. He was presented before the Thiruvananthapuram Additional Chief Judicial Magistrate Court, which subsequently remanded him to police custody. This custody will allow investigators to conduct further interrogation to uncover the full network involved in this sophisticated cyber fraud and attempt to trace the siphoned-off funds.
This case highlights the increasing sophistication of cybercriminals who use encrypted apps for communication and exploit cryptocurrencies to obscure the money trail. It also underscores the importance of public vigilance against online investment schemes promising unrealistic returns.
