The Cyber Crime Police Station, Ribandar, Goa, has successfully made arrests in a major cyber fraud involving a stock market trading scam. The case, registered as Case No. 41/2024, came to light following a complaint by a Vasco resident who was duped into investing ₹11.60 lakhs through fraudulent social media and WhatsApp groups like “A 703 Upsurge Club” and “Bulk AiD han Pro.” The fraudsters, posing as stock trading experts, lured the victim with promises of high returns.
Investigation revealed that ₹4,90,000 of the defrauded money had been transferred to a State Bank of India account belonging to Aadesh Anand Parcha from Jalna, Maharashtra. Parcha disclosed during interrogation that he was instructed by Abhay Dandage, another Jalna resident, to use his account to receive the funds in exchange for a commission. Dandage, in turn, revealed he was acting on behalf of Noman Tamboli from Jalna, who paid him ₹5000 for each transaction and had provided about 20 bank accounts for the scam.
A team led by PSI Mandar Gaonkar arrested Dandage on 18th September 2024, while Parcha was issued a notice to cooperate with the investigation. A subsequent operation, led by PSI Sarvesh Sawant, resulted in the arrest of Noman Tamboli near Mumbai Airport after a long chase.
Authorities have recovered multiple items, including three mobile phones and ₹10,000 from Tamboli, along with evidence of over 50 bank accounts involved in cyber frauds across the country. From Dandage, a mobile phone, cheque book, and passbook were also seized.
Cyber Crime Police have issued a public advisory, warning individuals to be vigilant while investing in the stock market through social media or apps. It is crucial to verify bank account details before making any transfers, as fraudsters often use multiple accounts and withdraw funds immediately.
Further investigation into the case is ongoing under the supervision of Dy. SP Ashish Shirodkar, Cyber Crime PS, Ribandar.
Issued by SP Cyber Crime
