In a significant breakthrough, the Oshiwara police’s cyber cell has apprehended a 26-year-old suspect, Riyazuddin Abdul Subhan, in connection with a large-scale cyber fraud operation that spanned the nation. This elaborate scam involved deceiving individuals through online sharing and investment schemes.
The investigation was initiated following a complaint by a 30-year-old businessman who fell victim to the cyber scheme, losing a substantial sum of Rs 6.75 lakh last month. The police managed to trace the financial trail by scrutinizing Subhan’s bank accounts, utilizing the KYC (Know Your Customer) documents associated with them. Despite Subhan’s location in Assam, law enforcement successfully apprehended him in Worli. Subhan is believed to be a subordinate figure within the operation, executing the instructions of an elusive mastermind. He established a fictitious entity called “Asif Enterprises” and opened current accounts in two prominent banks to funnel the illicitly obtained funds. During their investigation, the police uncovered that one of these current accounts, held in a multinational bank in Assam, had a closing balance of Rs 1.15 crore. Meanwhile, the other account, under the same firm’s name but in a different bank, retained a balance of Rs 1.21 lakh. Utilizing the assistance of a nodal officer, law enforcement promptly froze the accounts, preventing an estimated loss of Rs 1.36 crore.
Deeper inquiry unveiled that Subhan, in collaboration with an associate in Assam, had been operating on behalf of the cyber criminals for the past two years. They established multiple fictitious current accounts under various bogus company identities, serving as conduits for receiving ill-gotten gains from victims, totaling approximately Rs 5 crore. For each such account, Subhan reportedly received a commission of Rs 1 crore, in addition to his role in transferring the fraudulent funds to the unidentified mastermind. The ongoing police investigation aims to identify and apprehend all individuals involved, including the elusive mastermind orchestrating the scheme.