Mumbai Cyber Cell Cracks Rs 3.81 Crore Fraud Case, Arrests Three in Thane

Mumbai's Crime Branch Cyber Cell has arrested three individuals in connection with a ₹3.81 crore fraud involving a 73-year-old man. The accused lured the victim with promises of multiplying his investments in the stock market. The arrests were made in Thane, and the suspects have been identified as Satish Suryanath Yadav (27), Vikas Ramshankar Maurya (27), and Sachin Krishnanand Chaurasia (23).

After receiving the complaint, the Cyber Helpline (1930) worked with a bank to freeze ₹15 lakh of the fraudulent amount. Inspector Mousami Patil, in charge of the Central Cyber Cell, revealed that Satish Yadav had created a shell company called "Shield Associate," where the defrauded money was deposited. Yadav, with the help of his accomplice Vikas, opened a bank account for the company, which was later rented to cyber fraudsters for commissions. The third accused, Chaurasia, had provided the SIM card used for opening the fraudulent account.

According to officials, the cyber criminals enticed the elderly victim by promising substantial profits from stock market investments. Falling for the scam, the victim transferred ₹3.81 crore to their accounts. When the promised profits stopped, the victim attempted to withdraw his principal amount but was unsuccessful. Realizing he had been duped, he approached the Central Cyber Cell and filed a complaint.

During the investigation, officials traced the stolen money to a specific bank account. Using this lead, the cyber cell identified and apprehended the individuals who provided the fraudulent account. The case is currently under further investigation.