Surat, Aug 26 (IANS) The Surat City Cyber Crime Cell on Wednesday arrested two men from Maharashtra in connection with an alleged online investment fraud in which a Surat complainant was duped of Rs 9.58 lakh after being lured through an Instagram advertisement for share-market investments.
According to the police, the accused allegedly used a pre-planned scheme in which potential investors were first approached through advertisements on Instagram and then added to Telegram groups.
The complainant was allegedly sent a link to a fabricated website through the group and persuaded to register and create a Demat account.
Police said the complainant subsequently transferred Rs 9,58,998.98 to different bank accounts provided through the website for share-market investments.
Transactions were shown on the platform as generating profits, and the complainant’s Demat account allegedly reflected the invested amount along with returns.
However, when the complainant sought to withdraw the money, the withdrawal was not processed, leading to the alleged online fraud.
A case was registered at the Cyber Crime Police Station 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 66(D) of the Information Technology Amendment Act, 2008.
Following directions from senior officials, Inspector M.C. Nayak and his team conducted a technical investigation to trace those allegedly involved in the case.
The arrested men have been identified as Uddhav alias Ravi Gondhali, 27, a decoration worker, and Gopendra alias Gopu Shinde, 23, a student, both residents of Parbhani district in Maharashtra.
Police alleged that Uddhav had established a firm in his own name and obtained an Udyam Certificate before opening a current account with Bank of India in the firm’s name.
Investigators said he handed over the account to Gopendra for a commission of Rs 5,000. The account was allegedly subsequently made available to absconding accused persons in return for a two per cent commission on transactions.
According to the police, transactions totalling Rs 1.47 crore took place in the current account between September 1, 2025 and January 21, 2026.
A check of the account through the National Cyber Crime Reporting Portal (NCCRP) allegedly revealed 13 complaints registered in different states, involving reported fraud of Rs 40.48 crore.
The National Cyber Crime Reporting Portal advises victims of financial cyber fraud to report incidents through the ‘1930’ helpline.
Police have advised people to remain cautious of social media advertisements promising high returns through share-market investments and to verify the credentials of individuals and platforms before making financial transactions.
They have also urged victims of financial cyber fraud to call ‘1930’ immediately, as early reporting can increase the possibility of freezing funds in bank accounts.
The investigation into the case is continuing.
–IANS
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