South Cyber Police Arrest Alleged Mastermind Behind ₹1.21 Crore Investment Fraud Linked To Dubai

The South Cyber Police apprehended the individual who perpetrated a fraud amounting to Rs 1.21 crore under the guise of investment. Upon investigation, it was uncovered that the perpetrator was assisting in cyber fraud from Dubai. On February 29, charges were filed under various sections of the Indian Penal Code and the Information and Technology Act at the South Cyber Police Station. The accused, Vilas Patade, has been arrested today.

As per the details provided by the South Cyber Police Station, a 69-year-old resident of Marine Drive was deceived by the accused and lost Rs. 1.21 crore between August 27, 2023, and November 27, 2023. A case was filed regarding this incident on February 29 at the South Cyber Police Station. The arrested individual, Vilas Baliram Patade, resides in Andheri East.

A woman, identifying herself as Nayana Singhania, reached out to the complainant via WhatsApp, establishing trust by impersonating individuals such as Linda, Anya, Sameer Malhotra, and Arjun Sharma from the company Cripoto Capita.

A case has been registered for defrauding the complainant of a total of Rs 1.21 crore by forcing him to invest on a fake web page while doing stock trading and showing false profit on it with the intention of cheating.

According to the information given by police, the arrested accused Vilas Patade employed five to six people by opening a bank account and used to pay them the amount in the form of commission. 

Also, the investigation has revealed that the arrested accused Vilas Patade has started several fake companies to transfer the amount of online fraud to the bank account of five to six fake companies. Importantly, it has also been found that the arrested accused, Patade, is working for Deepak Goyal, who resides in Dubai.

Published on: Friday, March 22, 2024, 12:55 AM IST