HYDERABAD: Promising 30 per cent returns, five miscreants lured a businesswoman into parting with Rs 3.1 crore and then left her in the lurch. The amount she invested was all that was left for her and her family after she incurred huge losses in business.
She invested the money hoping to make a quick buck to repay loans. But she is now penniless, with debts staring at her. Hyderabad Cybercrime police apprehended the culprits in Gandhinagar, Gujarat who are actually hawala agents. Their arrest is a follow-up to the investigation of a similar fraud that took place in January first week.
The names of the accused are Swayam Timaniya, Meet Timaniya, Brijesh Patel, Harsh Pandya, and Shankar Lal. The police teams after arresting one Ronak Tanna from Goa in January found the money trail.
The police discovered that the money siphoned off was being moved to Arjun, Yug, and Nitin in Dubai who in turn routed to the agents in Gandhinagar in Gujarat through RTGS.
Key players
- Swayam Timaniya (20) One of the accused, Swayam is a B Com graduate and is in direct contact with one of the masterminds Arjun in Dubai.
- Meet Timaniya (30) and Brijesh Patel (35) Swayam’s accomplices, who convinced Harsh Pandya to participate in the scheme.
- Harsh Pandya (31) Operated Cash Management Services in Fino Bank, responsible for converting the stolen funds into cash.
- Shankar Lal (66) Assisted in delivering the cash to Arjun’s associates through ‘hawala’ channels.With the involvement of the hawala system, the ED (Enforcement Directorate) might take over the case.