Team Herald
PANJIM: The Cyber Crime Police Station has arrested a man in connection with a large-scale cyber fraud amounting to Rs 2,44,59,408.
According to police, between November 25, 2024 and January 7, 2025, unidentified persons contacted the complainant via Facebook and WhatsApp, posing as stock market trading experts. The fraudsters induced the complainant to invest in fake online stock market schemes, promising high returns, thereby cheating him of Rs 2.44 crore through multiple bank transactions.
Based on investigation and financial analysis, the Cyber Crime police identified the suspect. A police team led by PSI Mandar Gaonkar, along with constables Ashish Naik and Shantaram Narse, under the direct supervision of PI Deepak Pednekar and SP (Cyber Crime) Rahul Gupta, IPS, proceeded to Narsinghpur, Madhya Pradesh, and arrested Neeraj Rai, 50, a resident of Narsinghpur, MP.
During interrogation, it was revealed that the accused played a key role in managing mule bank accounts and was responsible for routing Rs 3 lakh of the defrauded amount to various accounts. Rai’s bank account was also found to be involved in 40 other cases across the country, and he is believed to be part of a larger network actively engaged in the circulation of fraudulent funds.
The accused has been remanded to five days of police custody. Further investigation is underway under the supervision of PI Deepak Pednekar of the Cyber Crime Police Station.