The gang is accused of duping victims through fake loan apps, fraudulent investment schemes, and bogus stock trading platforms across the country, siphoning off nearly Rs 60.62 crore
Hundreds of fake documents seized
In a massive crackdown, the Mumbai Crime Branch has arrested 12 members of an international cyber fraud syndicate. According to officials, the gang forged documents, opened hundreds of bogus bank accounts, and routed scams through call centres in China, Hong Kong, Dubai, and multiple Indian states.
The gang is accused of duping victims through fake loan apps, fraudulent investment schemes, and bogus stock trading platforms across the country, siphoning off nearly Rs 60.62 crore. The modus operandi of this syndicate was to dupe people through online loan apps, investment schemes and stock trading scams by approaching them with multiple disguises like finance experts, bank officials, etc.
The arrests followed coordinated raids on June 18 in Andheri, Kandivli, Thane, Dombivli, Kalyan, Ambernath, Badlapur, and Pune. Acting on a tip-off, cyber police detained three men in Kandivli East, whose questioning revealed a larger operation involving fake accounts and SIM card activations for foreign handlers. This led to a wider action that resulted in a total of 12 arrests.
Crime Branch officials pose with arrested accused
The accused have been identified as Mahadev Patel, Shubham Pasalkar, Sanjay Gangurde, Ganesh Bhise, Amol Mane, Prashant Patil, Vinod Shiledar, Vikas Karande, Ashok Patil, Nilesh Gavade, Saurabh Thombre, and Vaibhav Pawar. Police said most were directly involved in document forgery, account creation, and SIM procurement.
Police also revealed that the gang collectively opened 143 bank accounts using forged IDs. The seized materials include 140 fake PAN cards, 104 Aadhar cards, 96 bogus driving licences, 484 debits, several laptops, mobile phones, and other technical and electronic equipment that were used to carry out the fraud.These documents were used to acquire SIM cards, which were then handed over to the international operators running call centres in India and abroad. The same documents also helped them create bank accounts, which were collectively handed over to the international operators running these call centres.
“The SIMs and accounts enabled large-scale fraud through instant loan apps, high-return investment schemes, and stock trading platforms online,” said an official from Unit 2 of the Crime Branch. Police said the accused would send OTPs from the SIM activations to handlers abroad, enabling them to control accounts and execute fraud remotely. The forged documents, including bank passbooks, PAN, Aadhaar, and driving licences, were mass-produced as hard copies and used repeatedly to open bank accounts.
Police also suspect that a large portion of the siphoned money was routed further through hawala networks to overseas operators, making the financial trail harder to trace. Following their arrest and identification, police uncovered that nearly 333 cases have been registered against the syndicate across 19 states in India. When asked how they identified these cases, an official said, “The cases registered in the cybercrime portal have mobile numbers mentioned in them, along with the bank accounts where victims either transferred money or the accused siphoned it off. The seized bank accounts and SIM cards matched with 333 registered cases.”
While 12 were arrested this week, officials confirmed that a total of 92 accused have been held across India in connection with the wider racket. Efforts are on to trace the remaining members and the masterminds believed to be operating from overseas call centres.
Citizens warned
Police have appealed to citizens to be cautious about online loan apps, unsolicited investment offers, and fraudulent trading platforms. They warned people not to share OTPs, KYC documents, or banking details with unknown callers.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
