The North Region Cyber Cell Police has arrested three individuals in connection with a fraud case involving senior officials from a well-known company in Worli. The accused have been identified as Nitin Giridhar Chendavankar, Uday Shantaram Salvi, and Rajesh Popat Sonawane. The trio allegedly defrauded the official by promising high returns on stock market investments, amounting to approximately ₹22 lakh. The police have also identified four other wanted accused—Sameer, Kabir, Aman, and Harsh—and are actively searching for them.
According to the police, Vinay Tiwari, a resident of Malad, has been serving as the Senior Vice President of a reputed Worli-based company for the past 17 years. As an active investor in the stock market, Tiwari often makes investments in shares. On March 11, 2024, while checking his Facebook account, he came across an advertisement for a stock market analysis course by "Apollo Business School." Upon clicking the link, his mobile number was added to a WhatsApp group comprising over 130 members. The group, managed by admin Arunima Roy, conducted classes on stock market investments through audio and video sessions. Roy provided detailed investment guidance and information on potential profits.
Impressed by the course, Tiwari decided to invest in the stock market based on Roy's advice. His initial investments yielded substantial profits, with approximately ₹2.5 lakh transferred to his bank account. Trusting Roy, Tiwari further invested ₹22.22 lakh between March 11 and May 3, 2024. He was informed that this investment had grown to ₹40.88 lakh, including the principal amount and profits. However, when Tiwari attempted to transfer the amount to his bank account, the transaction failed. Upon inquiry, Roy informed him that he needed to pay ₹3.18 lakh in taxes before the transfer could be completed. Tiwari was told that the funds would remain frozen until the tax payment was made.
Realizing he had been duped, Tiwari immediately reported the matter to the Cyber Helpline (1930) and the Cyber Cell of the North Region. After verifying his complaint, the police registered a case under various sections of the Indian Penal Code, including Sections 419, 420, 465, 467, 468, 471, 120B, and 34, along with Sections 66(C) and (D) of the Information Technology Act. The police promptly launched an investigation to track down the accused.
Based on technical evidence, the police arrested Nitin Chendavankar, Uday Salvi, and Rajesh Sonawane. During interrogation, it was revealed that the trio was involved in the scam, and the defrauded money was deposited into their bank accounts. Further investigation revealed that they had transferred the funds to other cyber criminals involved in the fraud. The three accused were produced before the court and later released on bail.
The investigation is ongoing, and efforts are underway to apprehend the remaining suspects.