The Pimpri-Chinchwad cyber police have arrested three individuals, including a real estate agent, in a connection with an online share trading fraud in which a company director was cheated of Rs 2 crore.
Police said the victim was added to 2 messaging app groups in February, where fraudsters promised him of 15% returns on stock market investments.
He was convinced to download a fake trading app, which displayed higher profits and asked him to invest more money.
Over a span of one month, the victim transferred Rs 2 crore to 15 different bank accounts, believing he was investing in stocks and IPOs.
The app showed profits of Rs 3 crore, delaying his intuition. The scam came into light when he was unable to withdraw the money.
During the interrogation, one of the accused, identified as Juvatkar, revealed that he had opened a bank account used as a false account for handlers operating from abroad.
Police said the accused had previously worked in call centres in Thailand and Myanmar and allegedly got involved in cybercrime operations.
Officials recovered:
Further investigation is underway to trace the wider network.