Cyber Crime
Bengaluru Man Arrested for Rs 2.3 Crore Cyber Fraud
A 50-year-old Bengaluru resident, Kumar Utlasar, was apprehended by the Goa Police Cyber Crime Cell in connection with a sophisticated investment fraud amounting to Rs 2.3 crore. A complaint was lodged by a Valpoi, Sattari resident who fell victim to the elaborate scheme.
According to SP Rahul Gupta of the Crime Branch, the cybercrime police registered a case against the accused on October 22nd. The complainant disclosed that they were contacted via WhatsApp prior to October 3rd by an individual using multiple phone numbers.
The complainant was subsequently added to a WhatsApp group named “A-33 High-Quality Stocks Exchange Group” and was enticed to invest in high-performing stocks and Initial Public Offerings (IPOs) through the SMIFSMAX app. The accused, under the guise of promising substantial returns, duped the complainant into transferring a total of Rs 1 crore to various bank accounts through multiple transactions. The fraudsters employed sophisticated techniques such as impersonation and digital communication to deceive the victim.
Through meticulous technical and financial analysis, investigators identified Kumar Utlasar as the primary suspect. As the proprietor of Aurinko Diensten, Utlasar received the fraudulently acquired funds into his company’s bank account and subsequently transferred portions of the money to other accounts. Furthermore, the accused diverted Rs 6 lakh to his personal account for personal use.
Upon interrogation, it was revealed that Utlasar’s bank account was linked to cyber fraud activities spanning nine states in India, with a total of Rs 2.3 crore associated with various fraudulent transactions.
The accused is currently in police custody, and further investigation is underway under the supervision of PI Deepak Pednekar of the Cyber Crime Police Station.