Ill rooted fraudsters captured by Oshiwara Police – link to a investment fraud worth of 60.35L depicted

Two individuals, Arbaaz Ahmed Shaikh (21) and Saraffuddin Shaikh (28), both school dropouts, have been apprehended by Oshiwara police in connection with an online fraud case targeting a 42-year-old professor from Andheri (West). The fraudulent scheme spanned from December 12, 2023, to January 23, during which the perpetrators persuaded the victim to invest Rs 60.35 lakhs in an online share trading scheme, promising lucrative returns. Fortunately, Oshiwara police managed to freeze the entire amount from the accounts where the fraudsters directed the victim to transfer the money. The duo was arrested in Kharghar, Navi Mumbai, after police traced them using the banking details linked to the fraud. “With technical support, our cyber wing located Arbaaz at a mutton shop, who then led us to his accomplice,” stated a police officer from the Oshiwara police station. The victim became aware of the deception when attempting to withdraw her funds. It was revealed that she had invested her savings, taken loans, and borrowed money from acquaintances to partake in the trading scheme.

Following her complaint lodged in February, DCP (Zone IX) Raj Tilak Roshan supervised a team, including Senior Inspector Mohan Patil, Inspector Shivaji Bhandwalkar, Sub-Inspector Sharad Devare, Head Constable Ashok Konde, and Constable Vikram Samobat, leading to the arrest of the suspects. The authorities are currently pursuing three more individuals from Rajasthan, Delhi, and Uttar Pradesh, believed to be the masterminds behind the operation. The arrested duo allegedly facilitated the opening of bank accounts to funnel money for the kingpins. “The suspects were apprehended after police tracked their whereabouts based on information provided by the victim. Upon filing the complaint, the victim promptly informed the authorities when the suspects ceased communication. The swift action of the police, in collaboration with the bank’s nodal officer, resulted in the successful recovery of the entire defrauded amount,” stated the police.

[Image Source: Forbes]