Mumbai Police have arrested a man for allegedly defrauding a senior executive of over Rs 60 lakh in a cryptocurrency investment scam, highlighting the risks of online trading platforms.
Key Points
- Mumbai Police arrest Arbaaz Wasim Mansuri for alleged cryptocurrency investment fraud.
- The victim, a senior executive, lost over Rs 60 lakh in the cryptocurrency scam.
- The fraud involved a WhatsApp group offering cryptocurrency investment tips and a fake trading platform.
- The accused allegedly provided bank accounts for transferring fraudulent funds.
- Police investigation is ongoing to identify and arrest other individuals involved in the cryptocurrency fraud.
The Mumbai Police have arrested a man for allegedly duping a senior executive of a private company of over Rs 60 lakh on the pretext of investment into cryptocurrency, an official said on Tuesday.
The Cyber Cell of the Mumbai Police's North Region took the action against the accused, identified as Arbaaz Wasim Mansuri.
How The Cryptocurrency Investment Scam Unfolded
The complainant is a resident of Kandivali and lives with his wife and daughter. He works as a technical manager in a private company. In February this year, he was added to a WhatsApp group that claimed to offer investment tips to those interested in cryptocurrency trading. The complainant contacted the group admin, who sent him a link to a trading platform, the official said.
After opening the link, the complainant allegedly shared his personal details along with his bank account information on the platform. Between February and March, he invested Rs 60,61,780 in cryptocurrency through the platform.
Demanding Additional Fees
In March, when he sought to withdraw the amount, the company informed him that his request was under processing. Subsequently, the group admin allegedly demanded an additional 15 per cent payment as processing fees to transfer the funds to his bank account, he said.
Suspecting foul play, the complainant refused to pay any further amount. Soon afterwards, the admin stopped all communication with the victim. Realising that he had been cheated, the complainant lodged a complaint on the National Cyber Crime Reporting Portal and with the North Cyber Cell.
Legal Action and Investigation
After verification, police registered an FIR against unidentified cyber fraudsters under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.
During the investigation, technical analysis led police to Mansuri. Probe revealed that part of the complainant's money had been transferred to his bank account, which was later allegedly forwarded to the main fraudsters.
Police said Mansuri is accused of supplying bank accounts to the gang.
Investigators also found that money from other fraud cases had been credited to his account. He was produced before a court, which remanded him to police custody.
Further investigation is in progress to identify and arrest the remaining accused, the official added.
