Seven arrested in Rs 56 crore online trading scam; two call centres sealed in Bengaluru, Neyveli
PUDUCHERRY: The Puducherry Cyber Crime Police have busted a scam worth over Rs 56 crore and arrested seven persons, who cheated many investors through a fake online trading application. The accused operated under the guise of a software development company and ran centres in Bengaluru and Neyveli, which were sealed by the police on Saturday. Vehicles, electronic equipment, and documents were seized during the operation. Authorities are continuing the search for other key suspects.
According to police, M Kokila (36), a resident of Lawspet, Puducherry, was looking for online trading opportunities when she was contacted by individuals claiming to be representatives of Global Software and Alogomaster Trading Company.
"They informed Kokila that she could earn significant profit by using their automatic robotic software for online trading. Believing them, Kokila purchased the software and made multiple payments amounting to ₹18,05,556, through UPI and bank transfers. When no returns were received, she tried contact the company," police said.
After failing to contact the company, Kokila filed a complaint with the Puducherry Cyber Crime Police by end of June. Following an initial inquiry, a case was registered on July 1 under Section 318(4) and Section 319(2) of the Bharatiya Nyaya Sanhita (BNS) and Section 66D of the Information Technology Act, 2000. Investigations revealed the suspects involved were operating from Bengaluru and Neyveli.
Acting on the orders of R Kalaivanan, Senior Superintendent of Police Puducherry, a team led by Superintendent of Police A Bascarane, along with inspectors B C Keerthy and Diagaradjane, conducted further probe. On Saturday, the team arrested seven suspects in Bengaluru after sealing their centre there. A separate team sealed the centre in Neyveli.
The arrested individuals were identified as Thupaik Ahamed, Praveen, Jagadish, Ansari Muhammad, Ramachandran, Premises Anand, and Vimal Raj. Police records indicate the group had been running call centres in multiple countries, including India, Dubai, Hong Kong, and Thailand, since 2014, employing over 200 people to deceive public. "Their operations were headquartered in Dubai, with Nawshad Khan Ahamed from Neyveli identified as the mastermind. His wife, Sowmya, owned a call centre in Namakkal. The main culprit, Tubail Ahamed, is a citizen of Dubai," said police sources.
The police are searching for more suspects, including five individuals in Dubai. "A total of ₹56 crore was fraudulently obtained from just three bank accounts over the last nine months. Of this amount, ₹27 crore has already been frozen in bank accounts across India," police added.
A total of four luxury cars, one van, one motorbike, credit and debit cards, bank passbooks, cheque books, staff certificates, mobile phones, personal computers, and electronic equipment used in their centres were also seized. The accused had also purchased bungalows in Bengaluru and resorts in Yercaud, Puducherry, and Kodaikanal with the money obtained from the scam.
Speaking to the media, SSP Kalaivanan said, "Public must be cautious and not trust investment advertisements on social media." Police are currently investigating whether the 1,56,346 individuals whose details were found in the suspects' possession were also defrauded or not.