The Navi Mumbai cybercrime police have dismantled a major share trading fraud network with alleged links to cybercriminals operating from China and Cambodia. Officials confirmed the arrest of seven individuals involved in the racket, which duped multiple investors out of crores of rupees through fake stock trading schemes. The breakthrough led to the freezing of 118 bank accounts across several Indian states, securing ₹32.5 lakh connected to the fraudulent transactions.

The investigation began after a victim lodged a complaint, reporting a loss of ₹1.07 crore in a trading scam between September 2 and October 8 this year. According to police, the fraudsters lured victims through social media advertisements promising unusually high profits in share trading. Using a counterfeit trading application, they displayed fake profits on the users’ dashboards, convincing investors to pour in larger sums. Once sufficient funds were collected, the perpetrators vanished, refusing to return either the capital or the purported gains.

Following days of intensive surveillance, the cyber police tracked down two key suspects — Suresh Talekar, 29, and Vikas Awhad, 30 — in Pune. Acting on intelligence gathered from their interrogation, investigators uncovered evidence of a broader network working across locations in Navi Mumbai, including Mahape, Vashi, and Sanpada. During raids on more than 35 hotels and lodges, police arrested five more individuals allegedly acting as local facilitators for the foreign-based masterminds. One unarrested suspect reportedly met three Hindi-speaking individuals from another state to deliver SIM cards linked to fraudulent bank accounts.

Also Read: Pune Man Duped of Rs 11 Lakh in Bizarre ‘Get Me Pregnant Job’ Online Scam

Interrogation of the arrested suspects revealed a direct international connection, with at least three accused maintaining contact with handlers in China and Cambodia through encrypted Telegram channels. Their role, investigators said, was primarily logistical — using mobile applications to forward one-time passwords (OTPs) generated from ongoing bank transactions to the overseas operators coordinating the scam. The police suspect these OTPs were essential in transferring stolen funds and masking transaction trails through layered digital accounts.

Officials have urged citizens to remain vigilant against fraudulent investment schemes circulating on social media. “People should not fall for ads promising quick profits. Always verify the legitimacy of trading platforms and seek guidance from authorized brokers,” a senior police officer said. The investigation continues as authorities coordinate with national and international agencies to trace the wider network behind the cross-border cyber fraud.

Also Read: Kerala Rs 3.5 Crore Education Scam: Second Arrest Made as Probe Widens