Three held for Rs 400 crore cyber fraud

Jaipur, May 9 (PTI) Bharatpur Police on Friday said it has arrested three persons associated with a fintech company for allegedly committing cyber fraud to the tune of Rs 400 crore.

Bharatpur Range Inspector General of Police Rahul Prakash said the arrested accused were identified as Ravindra Singh (54), Dinesh Singh (49) and his wife Kumkum.

The matter came to light when a complaint was lodged against Fino Payments Bank by Hari Singh at Dholpur Cyber Police Station.

According to Director General of Police (Cyber Crime) Hemant Priyadarshi, investigations revealed that Rs 35 lakh received from the complainant has been transferred to the accounts of four companies -- Rukanek Enterprises Private Limited, Selva Krishna IT Solution Private Limited, SKRC Infotech Private Limited and Nityashree Main Power and Contract Works.

The cyber crime DGP said that during the investigation, a shocking fact came to light -- there were about 3,000 complaints registered against the bank. This has now crossed 4,000, he said.

The DGP said the gang has been siphoning off funds by forwarding fake links to people after luring them into making stock market investments.

In the last four months, fraudulent transactions to the tune of more than Rs 400 crore have taken place in the accounts of these companies, he said.

He said further investigation is on in the case and there are possibilities that the actual amount siphoned off by the gang may cross Rs 1,000 crore.

The kingpin of the gang was Ravindra Singh, who has done an MBA (Master of Business Administration), while his nephew Shashi Kant Singh technically assisted him, the DGP added. PTI AG RUK RUK