In a significant crackdown on cybercrime, the Ahmedabad police have registered a case against four individuals for allegedly operating an elaborate scam that targeted American citizens by posing as legitimate loan providers.
The Accused and Initial Arrest
Vejalpur police have identified the four accused as Soyeb Ghanchi, Shoaib Qureshi, Saqib, and Yasar Makwana. According to police officials, these individuals operated a fraudulent call center that utilized digital platforms to deceive victims across the United States.
Police Inspector R M Chauhan of Vejalpur police station confirmed that Ghanchi has been arrested following a coordinated operation, while intensive efforts are ongoing to locate the other three suspects named in the First Information Report (FIR).
How the Elaborate Scam Operated
The criminal operation came to light on Friday when police acted on a tip-off and conducted a raid near Fatehwadi. During this operation, officers accompanied by witnesses detained Soyebbhai Ghanchi, who was allegedly managing the entire scam operation from his mobile phone.
According to police sources, Ghanchi confessed to using Telegram and WhatsApp groups to obtain and distribute American citizens' personal data to various vendors involved in the scheme.
The modus operandi involved convincing American citizens to purchase gift cards under the false pretense of loan processing fees. These gift cards were then processed through WhatsApp groups and converted into cryptocurrency via Bitcoin wallets. The illicit funds were subsequently transferred to accomplices in India, who converted them into Indian currency through local hawala networks.
Digital Evidence and Ongoing Investigation
During the raid, police seized a mobile phone from Ghanchi containing substantial incriminating evidence. The device held sensitive data of American citizens, detailed gift card information, and comprehensive transaction records.
Investigators noted that the phone had the Trust Crypto & Bitcoin Wallet application installed, which directly supports allegations of financial fraud through cryptocurrency channels.
The accused now face multiple charges under various sections of the Indian Penal Code and the Information Technology Act, including Sections 318(4), 319(2), 54, and relevant sections of the IT Act pertaining to cheating and cyber fraud.
An extensive investigation continues to uncover the complete network involved in this international scam and identify additional participants in the criminal operation.
