Vadodara: Sleuth Cybercrime has broken Chinese application fraud and arrested two people from Bhavnagar who used to offer a beneficial investment scheme and suck down the money dozens of victims.
One of the scam mastermind is expected to be taken to the city on Friday.
The fraudsters first made a cellular application to contact the victims and then made the Shell company start a fake bank account.
The money transferred to these accounts was finally converted into Crypto’s currency and reached various countries.
Fraud was revealed during a complaint investigation of RS3 Lakh fraud proposed by local residents Miral Nayak at the Cybercrime Police Station.
Nayak has received MMS between August and November this year where the sender asked him to click on the link.
When I did it, he was asked to register with detail and offered the return of Inonline retail company investment.
“He got some money back but then the complainant was told that there was a locking period.
He continued to invest money but when he tried to withdraw his money, his account was blocked,” said Hardik Makadia, ACP (Cybercrime).
When the police tracked a bank account where the money was stored, they knew that some money went into a bank account in Bengaluru and several in Bank Milan account, the resident of Bhavnagar.
The police arrested Waggh who revealed the name Kashyap Yoshi, who was accused of Bhavnagar.
“Joshi told us that he was approached by several men who offered him money to start a different bank account and make money transactions,” Makadia told Toi.
He added that the modus operandi was similar to Chinese application fraud.