Pune Cyber Police Bust Rs 1.6 Crore Investment Fraud Ring Targeting Senior Citizen; Six Arrested, 29 Complaints Uncovered Nationwide
Reported by Mubarak Ansari
Pune, 7th April 2025: In a major breakthrough, the Pune Cyber Police have dismantled an elaborate cyber fraud syndicate that duped a senior citizen of ₹1.6 crore under the guise of stock market investments and dividend promises. The meticulously orchestrated racket led to the arrest of six individuals, including tech-savvy masterminds operating in cryptocurrency and digital marketing.
The accused, who systematically approached senior citizens via WhatsApp posing as financial advisors and market experts, lured victims with fake investment opportunities under names like “G5 UP Stox,” “Growth Visionary Blinkx PEI,” and “Star Alliance.” They manipulated trust over time through group chats and personalized calls, urging the victim to deposit substantial sums across multiple bank accounts.
An FIR was registered at the Pune Cyber Police Station under Crime Register No. 39/2025, invoking multiple sections of the BNS and the Information Technology Act, including Sections 318(4), 319(2), 316(5), 3(5), and 66(D).
The case gained momentum when police traced a ₹5.82 lakh cheque withdrawal from an IDFC Bank account in Wagholi on March 17, 2025. This led to the arrest of Ketan Umesh Bhiware (27), a Kharadi resident, who revealed that multiple fraudulent bank accounts were created by his brother Nikhil alias Kishore Satav (32).
Realizing he was being pursued, Nikhil initially evaded capture, but was eventually apprehended. Further investigation uncovered the involvement of Govind Sanjay Suryavanshi (22) and Rohit Sushil Kamboj (23) — both B.Tech graduates and founders of digital marketing firms like Digiventry, Oneness, and Rajat Cell. The duo harbored ambitions of establishing 100 companies within a decade and had deep ties to the cryptocurrency world, particularly in trading USDT (Tether).
Police said the accused transferred fraudulent funds into various bank accounts, withdrew the money via cheques, and laundered it through shell firms and hawala channels. A significant portion of the proceeds was traced to Jabbarsingh Arjunsingh Purohit (45), a businessman from Pune’s Charholi area and a native of Dharavi, Mumbai. Purohit allegedly received USDT tokens in exchange for transferring stolen money to various bank accounts, including those controlled by Ketan Bhiware.
Purohit, suspected to be the mastermind, gave evasive responses during questioning but was conclusively linked to multiple transactions.
Widespread Nexus, 29 Cyber Complaints Linked
The arrests have unraveled a broader cyber crime network spanning 29 complaints across India, with links to Dubai, Gujarat, and West Bengal. Investigators discovered that the accused operated 100–150 bank accounts for illicit transactions, cleverly bypassing detection systems.
According to officials, the accused exploited gaps in digital payment monitoring and the rising popularity of cryptocurrencies to execute their plans with precision.
Crackdown Led by Senior Officers
The operation was carried out under the leadership of Police Commissioner Amitesh Kumar, with direct oversight from Joint Commissioner Ranjan Kumar Sharma, Additional Commissioner Shailesh Balkavde, Deputy Commissioner Vivek Masal, and ACP Machhidra Khade.
A dedicated team from the Pune Cyber Police Station, including Senior Inspector Swapnali Shinde, PSIs Sandeep Kadam and Tushar Bhosale, along with police personnel Chavan, Mundhe, Pawar, Markad, Yadav, Nagtilak, Jamdade, Sonune, and PSI Memane (Chatushringi Police), played a pivotal role in the investigation and arrests.
The Pune Cyber Police continue to investigate the case, anticipating more revelations as digital forensics uncover the depth of the operation.
For victims of cyber fraud, authorities recommend reporting cases immediately through the National Cyber Crime Reporting Portal and contacting the nearest cyber police station.
