Cyber Fraud Syndicate Handler Arrested: Unraveling a Nationwide Scam
A man was arrested for allegedly managing the accounts of a cyber fraud syndicate involved in duping people of significant sums through false promises of high returns in share trading. Vinayak Baranwal, 28, was identified and apprehended following a police investigation initiated in June.
- Country:
- India
The North Region cyber police have taken into custody a man believed to be a key figure in a nationwide cyber fraud syndicate. The man, identified as Vinayak Baranwal from Thane, allegedly managed bank accounts used in defrauding people by promising substantial returns in share trading.
Baranwal's arrest was made after police traced the financial trail left by a 58-year-old woman who reported being swindled of Rs 27.44 lakh. The probe revealed that her money was funneled through accounts connected to numerous similar cases across the country, totaling 106 related complaints.
Advanced technical analysis pinpointed Baranwal as the operator of these accounts, leading to his capture over the weekend. The investigation underscores a broader effort to dismantle fraud networks that prey on individuals through investment scams.
(With inputs from agencies.)
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