Surat, July 16 (IANS) The Surat City Cyber Crime Cell has arrested a 30-year-old man accused of facilitating the movement of money in an alleged online investment fraud in which a complainant was cheated of Rs 46.16 lakh through a fake share market and forex trading scheme.
According to officials, the complainant was added to a WhatsApp group where the fraudsters shared purported share market and forex trading tips and claimed that trading through their application would generate high returns.
The complainant was allegedly directed to a fake website, where an account was created in his name before he was persuaded to transfer a total of Rs 46.16 lakh into multiple bank accounts for trading.
“The promised returns never materialised and the money was not returned. The victim subsequently reported the incident to the National Cyber Crime Helpline by dialling 1930, following which the Surat City Cyber Crime Cell launched an investigation,” officials said.
Based on the complaint, the Cyber Crime Police Station registered an FIR 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 66D of the Information Technology Act, 2008.
During the investigation, a team led by Police Inspector V.D. Mandora, working under the guidance of senior officials, carried out technical analysis and identified one of the alleged participants in the fraud.
The arrested accused has been identified as Avinik Vaghasiya, a resident of Siddharth Nagar Society near Simada Naka in Surat and originally from Valukad village in Palitana taluka of Bhavnagar district.
According to the police, Vaghasiya allegedly worked with the holder of an IndusInd Bank account used in the fraud.
Investigators alleged that he withdrew money obtained through the cyber fraud using ATM transactions and cheques before passing the cash to other accused persons who remain absconding.
“He withdrew Rs 1,26,105 belonging to the complainant as part of the operation,” officials said.
The investigation also found that the bank account used in the case has been linked to six cyber fraud complaints registered in different states on the National Cyber Crime Reporting Portal.
Police records show that Vaghasiya has previously been booked in cyber fraud and other criminal cases.
These include a 2026 case registered at the Cyber Crime Police Station in Amreli district under provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act, a 2022 case at Bhensan Police Station under sections related to unlawful assembly, rioting, intentional insult and criminal intimidation of the Indian Penal Code, and a 2024 cheating case registered at Varachha Police Station under Section 420 of the IPC and Section 66D of the Information Technology Act.
Surat Police urged the public to report financial cyber fraud immediately by calling the helpline number, saying prompt reporting increases the chances of freezing fraudulent transactions.
The police also advised people not to download unknown applications or APK files sent under the pretext of RTO challans, banking services, customer support or KYC updates; avoid clicking on suspicious links received through SMS or email; remain cautious of social media groups promising unusually high returns from online share market investments; and refrain from opening ZIP files received through WhatsApp on computers.
Victims of sextortion, morphed images, nude video call scams, so-called digital arrest scams or any other form of cyber crime have also been advised to report the matter immediately.
–IANS
mys/pgh