“Massive ₹16,180 Crore Fraud Unearthed: Two Arrested in Maharashtra Financial Scandal”
Maharashtra police apprehend two individuals for their involvement in a massive financial crime, unearthing a scheme that breached a payment gateway service provider’s system, siphoning off over ₹16,180 crore. The investigation reveals a sophisticated operation with potential pan-India implications.
In a significant breakthrough, the police in Maharashtra’s Thane city have arrested two individuals in connection with a staggering financial fraud amounting to over ₹16,180 crore. Anup Dubey, 26, from Bhayander, and Sanjay Namdeo Gaikwad, 42, a partner in a firm located in Mumbai, were taken into custody in this complex case.
The alleged fraud had been ongoing for a considerable period but came to light after a complaint was filed with the Srinagar police station in April 2023. The complaint centered around the hacking of a payment gateway system, resulting in the siphoning of ₹25 crore.
During the subsequent investigation by the cyber cell team, they uncovered a web of suspicious transactions totaling more than ₹16,180 crore. In response, the Naupada police registered a case on October 6 against five individuals under various sections, including cheating, criminal breach of trust, forgery, criminal conspiracy, and provisions of the Information Technology Act.
The FIR also revealed that one of the accused, Jitendra Pandey, had previously worked as a relationship and sales manager in banks for 8 to 10 years.
Authorities suspect that this vast financial racket may involve multiple players and have broader implications across India, potentially impacting various companies and individuals. The accused reportedly set up several partnership firms using bogus documents to facilitate money laundering. The investigation disclosed the existence of five such partnership firms, with transactions worth ₹16,180 crore being revealed through the examination of 260 bank statements.
This arrest marks a significant development in uncovering the extent of financial crimes in the region, shedding light on a sophisticated operation with the potential to affect numerous entities and individuals nationwide.
Sources By Agncies
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