Pune Cyber Fraud News: Gang Cheats Man of Rs 1.11 Crore Through Fake Scheme, 5 Suspects Arrested

Pune: In a significant cyber fraud case, the police have successfully busted a gang and arrested five suspects within 24 hours. The fraud, amounting to Rs 1.11 crore, was carried out under the pretense of investment returns via a fake ‘Ali Express’ platform. According to the police, the complainant was contacted through a WhatsApp number and lured with the promise of 10 15 percent profit on investments made through the so-called 'Ali Express' platform. 

Initially, the accused showed fake profits to gain the victim’s trust, leading him to deposit a total of Rs 1.11 crore into various bank accounts. However, when the victim attempted to withdraw the amount, he was told that government taxes needed to be paid, and the funds were subsequently blocked.

Acting swiftly, a team led by Police Inspector Ravikiran Nale, Assistant Inspector Praveen Swami, Sub-Inspectors Sagar Poman and Prakash Katkade arrested Sharad Dilip Saraf (48), a resident of Hadapsar, Pune, from Nagpur based on technical analysis. Upon interrogation, Saraf confessed and revealed the names of two more accomplices—Suraj Saikar (28), who was arrested in Nagpur, and Sanket Nhavale (24), arrested in Pune.

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Further investigation uncovered that two more accused, Nagesh Gange (28) and Yogiraj Jadhav (29), had withdrawn the defrauded money in cash and converted it into USDT (a cryptocurrency). The USDT was then sold on various platforms and converted into Indian currency.