Surat: The Cyber Crime Cell in Gujarat’s Surat has arrested absconding accused Vivek Beldiya in connection with an alleged online investment fraud of ₹19.60 lakh. Police said the fraud was carried out by promising unusually high returns through stock market and investment schemes. During the investigation, officers traced a bank account allegedly provided on commission to route money obtained through cyber fraud. Transactions worth around ₹2.73 crore were found to have passed through the account.
According to investigators, the accused allegedly lured the complainant’s son with promises of substantial profits from the stock market and added him to a WhatsApp group. Members of the group allegedly promoted investment opportunities and displayed claims of consistently high returns. The victim was subsequently directed to a fake investment website, where fabricated profits were displayed in his account to create the impression that his investments were generating genuine returns.
Believing the profits shown on the website to be real, the victim transferred a total of ₹19.60 lakh in multiple transactions to bank accounts specified by the fraudsters. The victim reportedly realised that something was wrong when he faced difficulties withdrawing the money. A complaint was subsequently filed through the cybercrime helpline 1930, following which the Cyber Crime Cell began examining the financial trail.
During the investigation, police allegedly found the involvement of Vivek Beldiya. According to investigators, Beldiya had allegedly made an ICICI Bank account available for receiving and routing money obtained through cyber fraud. In return, he allegedly received a commission. The bank account was reportedly held in the name of Satyajit Manjariya, who had already been arrested in connection with the case.
Investigators found that the account registered in Manjariya’s name was allegedly passed on to Beldiya through another accused, Pankaj Ramani. The account was then allegedly used to receive money linked to different cyber fraud cases and transfer it through other channels. Police are now examining Beldiya’s precise role in the transactions and determining how much commission he allegedly received for providing access to the account.
The investigation revealed transactions worth approximately ₹2.73 crore through the bank account. More significantly, police found 37 cybercrime complaints from different parts of the country linked to the same account. This has raised suspicion that the account may have been used as part of a wider cybercrime network rather than being limited to the fraud involving the ₹19.60 lakh victim.
The Cyber Crime Cell is now examining the complete transaction history of the account. Investigators are tracing where the fraud proceeds were transferred, how the money was moved through multiple accounts and who ultimately benefited from the transactions. Bank records, mobile numbers and other digital evidence are being analysed to identify additional people allegedly connected with the network.
The method used in the case also highlights a common pattern in online investment fraud. Fraudsters first attempt to build trust by promising unusually high returns and then direct victims to seemingly professional digital investment platforms. Fake dashboards and fabricated profit figures are used to convince victims that their investments are growing. Once a substantial amount has been deposited, victims may be asked to pay additional charges, taxes or other fees before withdrawals are allowed.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said fake investment websites and social media groups displaying extraordinary returns should be treated as major warning signs. Investors should independently verify the company, platform, registration details and payment arrangements before transferring money. Claims of extremely high returns within a short period should be approached with particular caution.
People who allow their bank accounts to be used for receiving or transferring cyber fraud proceeds in exchange for commissions can also come under investigation. Such accounts can provide fraud networks with additional layers through which stolen money can be moved and the financial trail can become more difficult to trace. Investigators are now examining how many bank accounts were used in the Surat fraud and who was the ultimate beneficiary of the ₹2.73 crore transaction trail.
The Cyber Crime Cell’s investigation is continuing. Police expect that the interrogation of Vivek Beldiya and analysis of the bank account records could help identify additional suspects and uncover other cyber fraud cases allegedly connected to the network.
