Pune: Hinjawadi Man Defrauded of Rs 74 Lakh in Stock Scam, Cyber Criminals Arrested from Chhatrapati Sambhajinagar

Hinjawadi, 10th September 2024: The duo who were duping people by promising heavy profits in the stock market have been arrested by the Cyber Cell of the Pimpri Chinchwad Police Commissionerate. A man from Hinjawadi was defrauded of Rs 74 lakhs. The cybercriminals were detained in Chhatrapati Sambhajinagar, and three mobile phones used in their crimes were confiscated.

Cyber Police have arrested Sajid Shaha Kasam Shaha (30) and Abhijeet Ramrao Shrirame (32), both residents of Chhatrapati Sambhajinagar. A case has been registered against them at Hinjawadi Police Station under Section 318(4) (cheating and dishonestly inducing the delivery of property) and Section 316(2) (criminal breach of trust) of the BNS, along with relevant sections of the Information Technology Act of 2000.

According to information provided by Deputy Commissioner of Police (Crime) Sandeep Doiphode, in July 2024, a resident of Hinjawadi received a message on Facebook with a link. After clicking it, he was added to a WhatsApp group named ‘Kotakzer.’ He was then asked to invest in shares through an app called ‘Kotakzer’ and was promised high returns. Trusting the scheme, the resident invested Rs 74,00,000 but neither received the returns nor got his invested amount back. He promptly reported the matter to the Hinjawadi Police Station, and a case was registered.

The case was handed over to the Cyber Cell, which began a technical investigation into the bank accounts where the money was transferred. The investigation revealed that the accused were likely residing in the Chhatrapati Sambhajinagar area. A team, led by Senior Police Inspector Ravikiran Nale, was dispatched and successfully caught the accused. During interrogation, the accused confessed to their crimes. Three phones used in the crime were confiscated. Transactions worth Rs 4 crore were discovered in their bank accounts, and 56 complaints were registered against the account. The suspects also confessed that others were involved in the scam. They have been handed over to the Hinjawadi Police Station for further investigation.

This operation was conducted under the guidance of Pimpri Chinchwad Commissioner of Police Vinoy Kumar Choubey, Joint Commissioner of Police Dr Shashikant Mahavarkar, Additional Commissioner of Police Vasant Pardeshi, Deputy Commissioner of Police Sandeep Doiphode, and Assistant Commissioner of Police (Crime) Dr Vishal Hire. The team was led by Senior Police Inspector Ravikiran Nale, along with Assistant Police Inspector Praveen Swami, Police Sub-Inspector Sagar Poman, and Police Constables Deepak Bhosale, Atul Lokhande, Priya Wasave, Ashok Jaware, Shrikant Kabule, and Abhijeet Ukirde, all from the PCPC’s Cyber Cell.