Vadodara: Sleuth Cybercrime has broken Chinese application fraud and arrested two people from Bhavnagar who used to offer a profitable investment scheme and suck down the victims’ money.
Allegedly that dozens of people from the country have been cheated by people.
One of the puppaches of fraud is expected to be taken to the city on Friday.
Fraudsters first make cellular applications to contact the victims and then create a Shell company to start a fake bank account.
The money transferred to these accounts will eventually be converted to the Crypto currency and achieve various countries in the world.
Fraud was revealed during a complaint investigation of RS 3 lakh fraud proposed by citizens of Cybercrime.
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 a return on investment in an online retail company.
“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 stored in Bank Milan Wagh account, a resident of Bhavnagar.
The police arrested Waggh who revealed the name Kashyap Joshi who was accused of another, who was too much in 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.
The money sucking from the victim was stored in this account and Joshi was used to transfer it to another account,” Makadia told Tii.
He added that the modus operandi was similar to Chinese application fraud and their IP addresses tracked to China.