SURAT: The Surat Cyber Crime Unit has arrested two individuals, including a 23-year-old engineering student enrolled at Kaunas University of Technology in Lithuania, for allegedly duping a local resident of 23.38 lakh rupees through fraudulent stock market investment schemes. The accused, identified as Abdul Rehman Akukara of Adajan Patia in Surat and his associate Mohsin Khan of Nanpura, originally from Uttar Pradesh, were apprehended near Civil Crossroads late on the night of October 22 following a four-day surveillance operation. Investigators suspect the duo acted as operatives for a Chinese cybercrime syndicate functioning out of Dubai, linking their illicit financial conduits to 338 complaints registered across 20 states with total defrauded sums estimated at roughly 410 crore rupees.
Deceptive Trading Applications and Financial Extraction
According to investigators, the victim was initially contacted with assurances of substantial financial profits through equity trading before being guided to install fraudulent mobile applications. Once the complainant registered on these platforms, the applications systematically displayed inflated, fictitious returns on her capital to project an illusion of rapid financial appreciation. Convinced by the fraudulent interface, the woman transferred a total of 23,38,800 rupees into multiple designated bank accounts across several installments. The fraud came to light when the platform barred her from withdrawing her capital and profits, prompting her to approach the authorities.
The Cyber Crime Unit subsequently registered a criminal case under Sections 318(4), 336(2), 338, 336(3), 340(2), 61(2), and 3(5) of the Bharatiya Nyaya Sanhita, 2023, along with Section 66D of the Information Technology Act. Two specialized investigative teams tracked the operational infrastructure through technical analysis of the receiving bank accounts and registered contact numbers, ultimately pinpointing the whereabouts of both suspects in Surat.
Syndicate Operations and Cryptocurrency Conversion
Police stated that Abdul Rehman, who had returned to Surat from his university studies in Lithuania three months prior, set up a bogus corporate entity in Khan’s name to systematically construct a banking conduit for cybercrime proceeds. Using the fabricated entity, the duo established four current accounts and 12 savings accounts across various financial institutions to receive and route illicit transfers. An audit of a single current account under their management revealed transactions totaling over 1.19 crore rupees between August 24 and September 16, 2026.
Investigators allege that the funds funneled into these accounts were promptly converted into Tether, a dollar-pegged cryptocurrency known as USDT, and routed to handlers in Dubai through third-party digital wallets. The suspects reportedly received fixed commission payouts for facilitating the transactions and establishing mule accounts. Authorities are currently reviewing records on the National Cyber Crime Reporting Portal to map the international network and identify other foreign syndicate handlers.
Recovery of Bank Cards and Public Advisory
During the raid, officers seized 12 mobile handsets alongside 17 debit cards issued by domestic and Lithuanian banking institutions. Forensic analysts are currently examining the physical and digital evidence to reconstruct the complete trail of financial transfers and identify additional entities involved in the multistate operation. Authorities reiterated their advisory urging the public to thoroughly verify the regulatory registrations of financial intermediaries and avoid sending funds to unverified bank accounts promoted through unsolicited trading advice.
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