The individuals arrested are Anup Dubey (26) from Bhayander and Sanjay Namdeo Gaikwad (42) from Mumbai, who is a partner in a firm.
Man loses phone, Rs 42,000 vanishes from bank account within 15 minutes
According to law enforcement authorities, this fraudulent activity had been ongoing for a considerable period but came to light following a complaint lodged with the Srinagar police station in April 2023. The complaint highlighted the hacking of the payment gateway system of a company, which resulted in the illegal siphoning of Rs 25 crore.
Subsequent investigation by the cyber cell team unveiled suspicious transactions exceeding Rs 16,180 crore.
On October 6, the Naupada police in the city registered a case against five individuals under various sections of the Indian Penal Code, including 420 (cheating), 409 (criminal breach of trust), 467, 468 (forgery), 120B (criminal conspiracy), and 34 (common intention), in addition to provisions of the Information Technology Act.
The FIR mentions one of the accused, Jitendra Pandey, who had previously worked as a relationship and sales manager with banks for a period of 8 to 10 years.
The police suspect that this vast criminal operation may involve multiple actors and have far-reaching implications across India, potentially affecting numerous companies and individuals. Furthermore, it has been reported that the accused established several partnership firms using fraudulent documents to facilitate money laundering.
Investigations revealed the existence of five partnership firms, with transactions totaling Rs 16,180 crore being uncovered after a review of 260 bank statements, as stated by the police.
(With inputs from PTI)
