Pune's Massive Online Share-Trading Fraud: 1,235 Bank Accounts and 82,000 Transactions Exposed
In a startling revelation from Pune, the ongoing investigation into a Rs 22.03 crore online share-trading fraud case, which first surfaced in January this year, has uncovered that the illicit funds were funneled through as many as 1,235 bank accounts spread across the country. This complex financial web spans accounts in cities like Noida, Delhi, West Bengal, Bengaluru, Solapur, and numerous other locations throughout India, highlighting the extensive reach of the scam.
Unraveling the Money Trail: 82,000 Transactions and Frozen Funds
According to Pune cyber police, the perpetrators executed a staggering 82,000 banking transactions to move money from one account to another, creating a convoluted trail designed to evade detection. So far, authorities have managed to freeze Rs 3.24 crore of the fraudulently obtained money. This frozen amount alone was transferred through over 40,000 transactions, underscoring the scale and sophistication of the operation.
Senior inspector Swapnali Shinde of the cyber police detailed the methods used, stating, "The minimum amount transferred by the crooks was Rs 678, and the maximum reached Rs 1 crore. They consistently moved money in small increments from one bank account to another, crafting a large and winding money trail. By analyzing these 82,000 transactions, we identified the 1,235 bank accounts exploited by the fraudsters." She emphasized that these rapid transactions were strategically executed to prolong investigations by agencies.
Arrests and Suspects: Key Figures in the Fraud Network
In a significant breakthrough, police arrested eight individuals linked to the case. On February 10, Akash Chandrashekhar Marathe (27), Lala Keshav Umap (26), and Parmeshwar Dilip Dabhade (23) were apprehended from Chhatrapati Sambhajinagar, along with Munilkumar Surendra Singh (51) of Ambarnath in Thane. Two days later, on February 12, four more residents of Chhatrapati Sambhajinagar were nabbed: Dishant Kamble (22), Sahil Shrisundaram (22), Vishwajeet Khandare (21), and Abhjit Nade (21).
Inspector Shinde explained the layered structure of the fraud, noting, "Typically, fraudsters transfer cheated sums to five to eight bank accounts, known as the first layer. Then, the money moves to a second layer of 40-50 accounts, multiplying further. In this case, 1,235 bank accounts were utilized, with the majority being mule accounts owned by casual workers and impoverished individuals. Some of these workers handed over their accounts, lured by promises of small loans ranging from Rs 2,000 to Rs 3,000."
Focus on Key Suspect: Dishant Kamble and Mule Account Collection
The investigation is currently zeroing in on Dishant Kamble, a BCS graduate employed with a courier company in Chhatrapati Sambhajinagar. Police suspect that Kamble played a pivotal role in gathering mule bank accounts from vulnerable populations, including poor people and casual laborers, by offering them trivial financial incentives. This tactic highlights how fraudsters exploit economic desperation to facilitate their schemes.
As the probe continues, authorities are delving deeper into the network to uncover additional accomplices and recover more of the stolen funds. The case serves as a stark reminder of the evolving threats in cybercrime and the critical need for vigilant financial oversight.
