Pune: Three Arrested In Rs 60 Lakh Cyber Fraud Case Involving Fake Investment App By Pimpri Chinchwad Cyber Police Take Action
Pune: Three Arrested In Rs 60 Lakh Cyber Fraud Case Involving Fake Investment App By Pimpri Chinchwad Cyber Police Take Action
Pimpri Chinchwad– In a major breakthrough, the Pimpri Chinchwad Cyber Police have arrested three suspects from Uttar Pradesh and Chhatrapati Sambhajinagar in connection with a Rs 61.3 lakh cyber fraud case involving a fake investment app targeting a resident of Sangvi. This marks the first reported crime of its kind at the Pimpri Chinchwad Cyber Police Station.
The complainant, a resident of Sangvi, was browsing online for information on the stock market when they encountered an advertisement link for Mstock, a trading company. Upon clicking the link, they were added to a WhatsApp group titled “L067.Mstock” by a woman identified as Kruti, who promised a 25-30% profit on investments made through Mstock’s trading platform. Enticed by the high returns, the complainant was convinced to transfer a total of Rs 61.3 lakh across several bank accounts. However, after the deposits were made, the complainant neither received the promised profit nor any refund of the invested amount.
Based on the complaint, an FIR was registered at Pimpri Chinchwad Cyber Police Station under Case No. 1/2024, charging the suspects with fraud under sections 318(4), 319(2), and 66(D) of the Information Technology Act. Recognizing the significant financial scope of the fraud, Commissioner of Police Vinaykumar Choubey directed an intensive investigation, led by Deputy Commissioner of Police Sandeep Doiphode and Assistant Commissioner of Police Dr. Vishal Hire. Cyber Police Inspector Ravikiran Nale is spearheading the inquiry.
During the investigation, officers tracked one of the fraudulent bank accounts to a delivery company employee in Wagholi. Upon questioning, this individual revealed he had opened the account under instructions from suspects identified as Avinash Baklikar and Satish More, to whom he handed over the account kit. Through technical analysis, police traced Baklikar’s location to Lonavala. A team led by Sub-Inspectors Pravin Swami and Sagar Poman combed over 1,000 villas in the area before locating the suspects, who were using fake Aadhaar cards and aliases to stay at various hotels and villas.
The suspects arrested are identified as:
Avinash Dnyanoba Baklikar (alias Com King), 26, a medical professional from Anandnagar, Nilanga, Latur District.
Adab Rupam Sheikh (alias Maddie), 26, an online trader from Ghaziabad, Uttar Pradesh and Satish Bhagwan More, 35, a swipe machine seller for ICICI Bank, from Lohgaon, Pune.
Seized from the suspects were 12 mobile phones, a laptop, nine bank account kits, debit/ATM cards, Aadhaar and PAN cards, and cash. During preliminary interrogation, it was discovered that Baklikar was facilitating bank account creation through associates in Chhatrapati Sambhajinagar and Pune, supplying these accounts to cybercriminals based in Nepal and China, effectively operating as part of an international cybercrime syndicate.
Further inquiries revealed that the fraud operation may have links to an international cybercrime network operating out of Kathmandu, Nepal, where cybercriminals held meetings and coordinated activities using alias identities to mask their real names. Investigations also uncovered Baklikar’s connections to China-based users of D.K. Makabaka and Candy Company platforms, leading to additional inquiry. Baklikar allegedly charged Rs 2-3 lakh per account kit provided, and was using the Binance platform to receive payments in USDT cryptocurrency. His mobile contained details of 55 accounts, with over 150 complaints linked to these accounts. Investigators also found that Baklikar had repeatedly shipped account kits to cybercriminals in Nepal and Kathmandu.
Sheikh, alias Maddie, came to Maharashtra from Ghaziabad to monitor account transactions for Baklikar and maintain close contact with cybercriminals, while More handled account finances and transactions for Baklikar. Further investigations are underway regarding other accomplices, bank accounts used in these crimes, transaction details, and the extent of each suspect’s involvement.
The operation was carried out under the guidance of Police Commissioner Vinaykumar Choubey, Additional Police Commissioner Dr. Shashikant Mahavarkar, Assistant Police Commissioner Sandeep Doiphode, and led by Inspector Ravikiran Nale. Additional officers, including Sub-Inspectors Pravin Swami, Sagar Poman, Vaibhav Patil, Prakash Katkade, Vidya Patil, along with other Cyber Police Station personnel, contributed to the effort.
Public Advisory: Authorities have advised citizens to only use SEBI-authorized applications for stock market investments, and to verify the legitimacy of any investment platform before transferring funds. Personal information, including banking details, should not be shared under any circumstances.
