Cyber Fraud: Rs 8.64 lakh frozen in bank to be returned to victim

Lokmat News Network

Chhatrapati Sambhajinagar

In a cyber fraud case, First Class Judicial Magistrate Prachi R. Palwe ordered that Rs 8.64 lakh frozen in a bank be returned temporarily (interim custody) to the victim. The court also directed the applicant to submit a “damage compensation bond” of the same amount. This order clears the way for the applicant to recover the money and demonstrates that timely complaints and proper follow-up in cyber fraud cases can lead to justice.

Case Details:

The applicant, Sunil Ukardaji Balsaraf, was contacted via WhatsApp regarding share market investments. He was persuaded to open a fake trading account under the name Aditya Birla Primary Marketing. Initially, the fraudsters gained his trust by showing profits. They then demanded Rs 6.48 lakh as “government tax” to withdraw a total profit of Rs 43.21 lakh.

Balsaraf transferred Rs 8.64 lakh via RTGS to an account under the name Maheshwari Diamond. Realizing it was a scam, he lodged a complaint on the National Cyber Crime Portal. During the investigation, the amount was frozen in the bank account. The police confirmed that the complainant had no direct involvement in the crime and that the funds had been received through legitimate transactions, as argued by Advocate Anand Angure in court.