18 August,2026 01:40 PM IST | New Delhi | mid-day online correspondent
Representational image. File pic
Gujarat's Surat Cyber Crime Police have arrested a 32-year-old man from Khambhalia in Devbhumi Dwarka district in connection with an alleged online investment fraud involving Rs 1.52 crore.
The accused, identified as Riyaz alias Shoaib Mirza, was arrested after police traced his location during a technical investigation. Police alleged that he provided bank accounts that were used to route money generated through cyber fraud.
According to police, the complainant was targeted between November 14, 2025, and February 10, 2026, by individuals who promised high returns through dollar investments in the share market.
The accused allegedly sent the complainant links to a fake website containing forged electronic content and persuaded them to register and create an account.
The complainant subsequently transferred a total of Rs 1,52,63,198 to several bank accounts through the fraudulent website and customer service channels for trading and investment purposes.
Police said the complainant was later prevented from withdrawing the money.
Police said Riyaz allegedly obtained bank accounts from people who had already been arrested in the case by paying them a three per cent commission.
He allegedly supplied these accounts to other accused who are still absconding, enabling them to transfer money generated through cyber fraud. Riyaz allegedly received a commission for facilitating the transactions.
A case was registered at the Cyber Crime Police Station under Sections 318(4), 336(2), 338, 336(3), 340(2), 61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, along with Section 66(D) of the Information Technology Amendment Act, 2008.
Police Inspector Y.S. Sisodia and his team, along with Assistant Police Constable Hardikkumar Gagjibhai and other personnel, worked to trace the accused.
Police said technical inputs indicated that Riyaz was in Khambhalia. A Surat police team subsequently travelled to Devbhumi Dwarka district, located him at his newly changed residence and arrested him.
Police said an examination of the bank accounts mentioned in the FIR on the National Cyber Crime Reporting Portal revealed 318 complaints registered across 22 states and Union Territories.
These included 12 complaints from Andhra Pradesh, three from Bihar, one from Chandigarh, two from Chhattisgarh, six from Delhi, one from Goa, 49 from Gujarat, two from Haryana, eight from Rajasthan, 26 from Telangana, one from Uttarakhand, two from Jammu and Kashmir, 26 from Karnataka, 43 from Kerala, three from Madhya Pradesh, 35 from Maharashtra, three from Odisha, seven from Puducherry, three from Punjab, 60 from Tamil Nadu, 17 from Uttar Pradesh and eight from West Bengal.
Police also found seven first-layer NCCRP complaints linked to an IndusInd Bank account that Riyaz had allegedly obtained from one of the previously arrested accused on commission. These complaints were registered in Gujarat, Karnataka, Kerala and Tamil Nadu.
Three other accused had previously been arrested in connection with the case. They were identified as Mineshkumar Solanki, 26, of Ahmedabad; Anil Gupta, 39, of Ahmedabad; and Vikas Singh Bhadoria, 34, also of Ahmedabad.
Their stated permanent addresses are in Patan district of Gujarat, Deoria district of Uttar Pradesh and Agra district of Uttar Pradesh, respectively.
The latest arrest is part of the ongoing investigation into the alleged network of bank accounts used to move money generated through cyber fraud.
Police said further investigation into the other accused involved in the case is continuing.
(With inputs from IANS)
