Four members from a family of jewellers were booked on for allegedly duping 18 investors of Rs 6.57 crore, reported PTI citing a Navi Mumbai police official.
According to the PTI report, the accused lured 18 persons into investing Rs 6.57 crore in a gold scheme by promising them high returns, the Panvel town police station official said.&nbsp;
"The victims did not get the promised returns or the money they had invested," the official added.
The four have been booked under Maharashtra Protection of Interest of Depositors (<a href="https://www.mid-day.com/news/world-news/article/exiled-chinese-billionaire-convicted-of-fraud-23364987" target="_blank" rel="nofollow noopener">MPID</a>) Act on Wednesday.
<a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/thane-police-bust-international-racket-of-sim-cards-use-for-cyber-fraud-3-held-23365148" target="_blank" rel="nofollow noopener">Thane police bust international racket of SIM cards use for cyber fraud; 3 held</a>
The officials said that Thane police have busted an international racket of supplying SIM cards to fraudsters in places like Cambodia, Dubai and China for share trading fraud and other cyber crimes, reported news agency PTI.
Three persons have been arrested in this connection - two from Chhattisgarh and one from Delhi - and 779 pre-activated SIM cards were seized from them, Thane Deputy Commissioner of Police, Cybercrime and EOW, <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/mumbai-stay-alert-to-stock-market-fraud-on-social-media-23364570" target="_blank" rel="nofollow noopener">Parag Manere</a> told reporters on Wednesday.
The police suspect that around 3,000 SIM cards have been put to use in a similar manner, he said.
During a probe into 16 such cases registered in Maharashtra's Thane, the police also got a lead that these crimes were being committed through WhatsApp with the use of 30 mobile phones and nearly 2,600 SIM cards activated from Chhattisgarh, Tripura and other places, reported PTI.
Upon verification, it was found that these numbers were activated through a WhatsApp IP in Hong Kong, the official said, reported PTI.
While probing a specific case of cheating of Rs 29.3 lakh, the Thane police found some SIM cards and the mobile handsets were being used from Chhattisgarh.
On July 5, the Thane police arrested Aftab Irshad Debar (22) and <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/thane-dombivli-police-bust-cyber-fraud-racket-23363736" target="_blank" rel="nofollow noopener">Manishkumar Mohit Deshmukh</a> (27), both from Chhattisgarh, and seized 779 pre-activated SIM cards, a laptop, two Wi-Fi routers, 23 mobile handsets, 50 debit/credit cards and 20 cheque books/passbooks from their possession, the official said, reported PTI.
During their interrogation, it came to light that one Bhaijan @ Hafiz Like Ahmed (48), from south Delhi, purchased the SIM cards and sold them to a gang based in Dubai, and cheated people in various cyber crimes. The police subsequently arrested him, he said, reported PTI.
The gang members procured the SIM cards from street vendors by fraudulently capturing the biometric fingerprints of customers who came to those shops.
The SIM cards were then activated and linked to the bank accounts where the ill-gotten money was transferred, the police said.
The associates of the arrested accused operating from Raipur, Bilaspur (in Chhattisgarh) and Delhi supplied the SIM cards to criminals in Cambodia, Dubai China and other countries who used them in cybercrimes there, they said, reported PTI.
The arrested persons also informed the police that around 3,000 SIM cards had already been supplied in foreign countries in a similar manner.
Further probe indicated that around six bank accounts were linked to these SIM cards, and a mega financial cheating racket was operating, the police said, reported PTI.
The police also came across 14 similar cases registered in Rajasthan, Haryana, Andhra Pradesh, Telangana, Gujarat and Kerala. This information was obtained through the National Cyber Crime Reporting Portal, the official said, reported PTI.
Search was on for the associates of the arrested accused, the police said.
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The four have been booked under Maharashtra Protection of Interest of Depositors (MPID) Act on Wednesday


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