Vadodara: Sleuth cybercrime arrested four people from different countries on Monday in connection with an online fraud committed by gangs of China.
Police say that more people are involved in the racket would be arrested in the coming days.
Police investigating the fraud said the accused had opened a number of bank accounts and shell companies over the last few months.
Racket came to light after Gaurav Patel, a resident of Tarsali, file a police complaint.
“Patel defrauded more than Rs 1.51 lakh which he had invested in the website to get a commission.
The gang promises attractive commissions for users and encourage them to deposit money.
They then suck the money and disappear,” said Hardik Makadia, ACP ( cybercrime).
Dozens of Indians have been duped by gangs and key accusers are based on Bengaluru.
Police have arrested Rohit Kumar from Jharkhand Sindh, Ravi Shankar Prajapani of Rajasthan, Krishna Gudam and Paparao Seva, the population of Andhra Pradesh.
“They have started several bank accounts and shell companies on their behalf,” said Makadia told TOI.
While Ravi Shankar open 15 to 20 bank accounts on behalf of different shell companies, Papara opened 12 accounts.
Siphoning money from the victims deposited in a bank account and then converted into cryptocurrency before being sent to the kingpin who currently resides in Mexico.
“We have arrested three key accused in the case in the past,” added the police.
Officials say the gang boiling in India keeping in touch with the masterminds WhatsApp.
“Masterminds who live abroad usual commissions continue to open bank accounts and shell companies to gangs in India,” added Makadia.