Cyber Crime
Inside Rs 96.2 Lakh Investment Fraud – How They Lured Victims and Got Busted by CID Jharkhand
Ranchi CID busts a multi-crore cyber scam, arresting key criminals involved in a 96.2 lakh investment fraud. Victims were lured via WhatsApp with false promises of massive returns.
The Criminal Investigation Department (CID) in Ranchi, Jharkhand, has apprehended a key member of a sophisticated cybercrime network involved in a multi-crore investment scam. The arrest, made in collaboration with the Indian Cyber Crime Coordination Centre (I4C) and West Bengal Police, sheds light on an elaborate scheme that has victimized individuals across multiple states.
The case, registered on May 3, 2024, under various sections of the Indian Penal Code and Information Technology Act, stemmed from a complaint filed by a Ranchi resident who lost a staggering 96.2 lakh rupees to the fraudsters. The investigation revealed a complex web of international accomplices using WhatsApp to lure victims with promises of tenfold returns on investments within a month.
The modus operandi involved directing victims to a fraudulent investment website, https://poemsvip.vip, where they were prompted to register and transfer funds to multiple bank accounts. The website displayed illusory profits, tricking victims into believing their investments were growing.
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Cybercrime experts traced the website’s IP address to Alibaba cloud servers in China, while financial trails led to servers in Hong Kong and Japan. This international dimension highlights the growing sophistication of cybercriminal networks.
The arrested suspect, identified as Dinesh Mondal, 32, from South 24 Parganas, West Bengal, is believed to be a key player in operating mule bank accounts across various states. Authorities seized incriminating evidence, including corporate internet banking credentials of accounts registered under proprietorship firms.
Further investigation uncovered the use of Aadhar, PAN card, Udyam registration (MSME), and GST registration to open corporate bank accounts under the name “Dinesh Paints” in multiple banks. One such account in Jana Small Finance Bank showed transactions totaling over 2.30 crore rupees.
The case has revealed links to at least 27 complaints reported on the National Cyber Crime Reporting Portal from various states, all related to investment fraud. Additionally, an RBL Bank account associated with the scam has been linked to 13 complaints involving illegal loan applications and investment frauds.
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Three other individuals have been previously arrested in connection with this case, including suspects from Maharashtra and West Bengal.
In light of this incident, authorities have issued a public advisory urging citizens to exercise caution:
- Never share personal financial data with unknown individuals.
- Avoid investment offers received through SMS, WhatsApp, or Telegram links.
- Refrain from depositing money into unfamiliar bank accounts or UPI IDs for any task or job offer.
- Report any cybercrime incidents to 1930 or https://cybercrime.gov.in
This case serves as a stark reminder of the evolving nature of cybercrime and the importance of digital vigilance in today’s interconnected world.
The CID’s swift action highlights the growing threat of cybercrime. By staying vigilant and following these safety tips, citizens can protect themselves from falling prey to such scams.
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