Pimpri-Chinchwad Police Busts Fake Share Trading Scam, Nabs Culprits and Recovers ₹ 7 Lakhs

In a significant crackdown on financial fraud, the Cyber Cell of Pimpri Chinchwad Police has successfully dismantled a sophisticated operation that exploited unsuspecting investors through a counterfeit share trading application. The operation resulted in the apprehension of several suspects involved in orchestrating the scam and the recovery of ₹7 lakhs in ill-gotten gains.

The arrested individuals, namely Juned Mukhtar Qureshi, Salman Mansur Shaikh, Abdul Aziz Ansari, Akif Anwar, Arif Anwar Khan, and Taufik Gaffar Shaikh, were nabbed as a result of extensive investigative efforts undertaken by law enforcement authorities., During the course of the operation, law enforcement recovered a substantial amount of evidence, including ₹7 lakhs in cash, seven mobile phones, a cash counting machine, eight debit cards issued by various banks, twelve cheque books from different financial institutions, and a passbook from Punjab National Bank. Further investigations have revealed that the accused individuals collectively defrauded citizens out of crores of rupees through approximately 120 bank accounts. 

Additionally, it has come to light that a foreign national, presently residing in Thailand, is believed to be the mastermind behind the scam, specifically targeting residents of Pimpri Chinchwad.

The successful dismantling of this fraudulent operation underscores the commitment of law enforcement agencies to combat financial crimes and protect the interests of innocent investors. Authorities remain vigilant in their efforts to identify and neutralize similar illicit schemes, thereby safeguarding the financial well-being of the community.