Kolhapur (Maharashtra): Kolhapur Police’s Cyber Crime Cell has busted an alleged interstate cyber fraud syndicate accused of cheating a prominent business firm of ₹2.36 crore by impersonating the company’s Chief Executive Officer (CEO) through WhatsApp. Five suspected members of the gang were arrested during coordinated raids conducted in Gujarat and Uttar Pradesh, while authorities also froze ₹82 lakh traced to various bank accounts as part of the investigation.
According to police, the fraud targeted a commercial firm based in the Gokul Shirgaon area of Kolhapur district. Investigators alleged that the accused contacted the firm’s manager via WhatsApp while posing as the company’s CEO. Under the pretext of a new business contract and urgent corporate requirements, the fraudsters allegedly persuaded the manager to transfer ₹2.36 crore to bank accounts controlled by the syndicate.
The arrested accused have been identified as Rajesh alias D.K. Girdharilal Gurnani (53), Bhavin Harshadbhai Khandera (23), Dev Pareshbhai Trivedi (24), Jatin Ashok Kumarpal (20), all residents of Ahmedabad in Gujarat, and Arpit Ramkumar Pandey (23), who was residing in Ahmedabad and is originally from Akbarpur Nagar in Uttar Pradesh.
Police suspect that additional members of the cybercrime network may still be involved, and efforts are underway to identify and apprehend other associates linked to the operation.
The complaint was lodged at Gokul Shirgaon Police Station on July 4, after the firm’s management discovered that the WhatsApp instructions purportedly issued by the CEO were fraudulent and that the transferred funds had been diverted to accounts allegedly controlled by the accused.
Following the registration of the case, the Superintendent of Police transferred the investigation to the Cyber Crime Cell. During the probe, cyber investigators analysed digital evidence, financial transaction trails, and banking records before launching interstate raids that led to the arrests.
Police stated that, during the operation, investigators seized forged company seals, passbooks of multiple bank accounts, and several documents believed to be connected to the alleged fraud. Authorities also succeeded in freezing ₹82 lakh lying in different bank accounts before it could allegedly be further diverted.
According to investigators, preliminary findings suggest that the alleged kingpin, Rajesh Gurnani, and his associates may have carried out similar CEO impersonation frauds targeting major companies, traders, industrialists, and business establishments in Maharashtra and several other states. Police are questioning the accused to determine the full extent of the network and identify additional victims.
The arrested suspects were produced before a court, which granted police custody to facilitate further interrogation. Investigators are examining digital devices, banking transactions, communication records, and other evidence to trace the movement of the defrauded funds and uncover additional links in the interstate network.
Cybercrime experts note that CEO impersonation, also known as Business Email Compromise (BEC) or executive impersonation fraud, has become an increasingly common tactic used by organised cybercriminals. In such scams, fraudsters impersonate senior company executives through messaging platforms, emails, or spoofed communication channels and create a sense of urgency to convince employees handling finance to transfer funds without verifying the instructions through independent channels.
Experts advise businesses to establish strict payment verification procedures, especially for high-value transactions. Any request involving urgent fund transfers, changes in beneficiary accounts, or confidential financial instructions should be independently verified through official communication channels before processing payments.
Police said the investigation remains ongoing, and authorities are working to identify additional members of the syndicate, trace the remaining funds, and determine whether the group is linked to similar corporate cyber fraud cases reported elsewhere in the country. The allegations against the accused will ultimately be tested during the judicial process based on the evidence presented before the court.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
