Cousins Arrested in ₹89 Lakh Cyber Fraud Case in Nashik
Two Nashik cousins held for routing funds in ₹89 lakh cyber fraud
Hindustan Times
Image: Hindustan Times
Two cousins from Nashik, Yogeshwar Jagannath Kuthe and Hrishikesh Bhagwat Kuthe, have been arrested for facilitating a cyber fraud that deceived a Goregaon resident out of ₹89 lakh (approximately $107,000 USD). The fraud involved a fake share trading scheme that led to significant financial losses for the victim.
- 01Two cousins arrested for their involvement in a ₹89 lakh cyber fraud.
- 02Victim, Rajasekharan Harikrishnan, was duped through a fake share trading scheme.
- 03Fraudsters posed as stock market experts to gain the victim's trust.
- 04₹51 lakh of the fraud amount was routed through the cousins' bank accounts.
- 05The cousins have been remanded to police custody for further investigation.
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In a significant cyber fraud case, two cousins from Nashik, Yogeshwar Jagannath Kuthe and Hrishikesh Bhagwat Kuthe, were arrested for allegedly enabling fraudsters to use their bank accounts to execute a scam that defrauded Rajasekharan Harikrishnan, a 54-year-old former senior vice president, of ₹89 lakh (approximately $107,000 USD). The scam began when Harikrishnan joined a WhatsApp group focused on share trading, where he was approached by individuals claiming to be stock market experts. These fraudsters, identifying themselves as 'Professor Sanjeev Das' and associates, convinced him to invest through a fraudulent trading application. After investing the money, Harikrishnan was unable to withdraw his funds, discovering that they had been transferred out of his account without his knowledge. Following his report to the North Region cyber police, investigations revealed that ₹51 lakh of the fraud amount had been routed through the cousins' bank accounts in Nashik, leading to their arrest. They were subsequently presented to a Borivali court, which remanded them to two days of police custody for further questioning.
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This case highlights the risks associated with online investment schemes and the need for increased awareness among potential investors.
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