In a significant breakthrough in the share market cyber fraud, the Pimpri-Chinchwad police have arrested three accused from Lonavala In Pune. As per the police, a resident of the Sangvi area has filed a complaint at the police station regarding the share market cyber fraud where the complainant was defrauded to the tune of Rs 61,30,000 under the pretext of giving handsome returns by investing in stocks. Accordingly, a case was registered under sections 318(4) and 319(2) of the Bhartiya Nyay Sanhita (BNS) and section 66(d) of the Information Technology Act (IT Act).
According to the police, the complainant clicked on the Mstock company share trading advertisement link on social media. A woman identified as Kruti contacted the complainant in the L067 MStock Whats App group and informed the complainant to invest in the share market via the Mstock mobile application to get 25 to 30 per cent returns on investment.
Acting on the complaint, the Pimpri-Chinchwad police initiated an investigation under the guidance of Deputy Police Commissioner (Crime) Sandeep Doifode, Assistant Police Commissioner (Crime) Dr. Vishal Hire An investigation team was formed including Police Inspector Ravikiran Nale of the Cyber Police Station, Assistant Police Inspector Praveen Swami, Sagar Poman, Police Sub Inspector Sagar Poman, Vaibhav Patil, PSI Prakash Kathkavde and Vidhya Patil.
Further investigation revealed that the bank account used for the cyber fraud was owned by a delivery boy based in Wagholi, Pune. PSI Vaibhav Patil, along with the police team, interrogated the delivery boy. It was revealed that the accused, Avinash Shilamkar, and Satish More asked him to open the account. Accordingly, the delivery boy opened the account and handed over the kit and bank details to the accused, Avinash.
The police team tracked the accused, Avinash Shilamkar, in Lonavala through technical analysis. Accordingly, API Praveen Swami and PSI Sagar Poman, along with the police team, searched almost 1000 villas in Lonavala City and the surrounding area. The accused used a fake identity card and cancelled his identity by using fake names and stayed in different hotels and villas in Lonavala.
The police traced the accused in a villa based in Golden Valley and arrested the accused Avinash Gyanba Baklikar alias Kom King (age 26, resident of Anandnagar, Nilanga, Latur), Aadab Rupam Shaikh alias Maddy (age 26, resident of Khoda Colony, Ghaziabad), and Satish Bhagwan More (age 35, resident of Khed, Ratnagiri). Further investigation revealed that the accused, Avinash Gyanba Baklikar, is a medical graduate, Aadab Rupam Shaikh owns an online trading business, and Satish Bhagwan More owns an ICICI Bank swipe machine selling business.
The police arrested the accused and recovered almost 12 mobile phones, one laptop, nine bank passbook kits, ATM cards, Aadhaar Cards, PAN cards, and Rs 13,000 cash totalling Rs 3,05,500.
Preliminary investigation revealed that the accused, Avinash Baklikar, opened various bank accounts in Chhatrapati Sambhaji Nagar and forwarded the accounts to the handlers in Nepal and China. The accused operated as a company working in cyber fraud. The police are investigating DK Makabba, a Candy Company user who is Avinash’s contact in China.
Further probe revealed that Avinash received RS one to two lakh per account, used the Binance platform, and received the money via USDT cryptocurrency. The police have revealed details of almost 55 bank accounts from Avinash’s mobile. The accused, Avinash Baklikar, sent various people with bank kits to his handler in Nepal.
It has been revealed that accused Adab Sheikh alias Madi is also in contact with cyber criminals and has come from Ghaziabad, Uttar Pradesh, to keep a watch on whether Avinash handles bank account transactions properly. It has also been found that accused Satish More is working for accused Avinash and is providing the account required for cyber crimes. The police are investigating the registered crime and the bank accounts used by the accused to commit the crime, the transactions on the account, other accomplices in the crime, the items received from the accused, and their involvement in the crime. Police Inspector Ravikiran Nale, of the Cyber Cell is further investigating the case.
The police have appealed to the citizens to use SEBI-approved applications to invest in the stock market. The SEBI-approved applications will not ask to deposit money into different accounts. While investing in the stock market, citizens should make sure that they are not investing on a fake platform. Under no circumstances should citizens share mobile screens, bank accounts, or personal information with unknown persons.
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