Director Nabbed in Massive 75-Case Cyber Fraud Scandal
A private firm director, Bhavik Mohan Pethana, was arrested in connection with 75 cases of online fraud, where his account was used to process crime proceeds. Cyber police discovered numerous financial transactions related to fraud as Pethana's account was central, along with co-director Pranab De Sarkar.
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In a crackdown on cybercrime, the cyber wing of Mumbai police's crime branch has arrested Bhavik Mohan Pethana, a director of a private firm, whose account was implicated in over 75 fraud cases involving illicit circulation of proceedings.
Pethana, residing in Goregaon's Siddharh Nagar, was found to have facilitated fraud transactions amounting to Rs 4.12 crore, during which victims were wooed into stock market investments between August 20 and September 4.
Investigations spearheaded by the South Region Cyber Police revealed multiple bank accounts receiving fraudulent money, leading to the apprehension of another suspect, Riyaz Thange. Authorities also flagged substantial transactions linked to Ascent IT Service Ltd, co-directed by Pranab De Sarkar, intensifying the ongoing probe.
(With inputs from agencies.)
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