A fake share-trading app, a WhatsApp group full of “tips,” and a rented bank account trail stretching across two states — that’s the anatomy of the latest cyber fraud case cracked by Surat’s Cyber Crime Cell.

In a significant move against organised digital fraud, the Surat City Cyber Crime Cell has taken down an interstate investment scam network, arresting five people accused of cheating a Surat resident out of roughly ₹26.2 lakh through a bogus share-market trading scheme. The accused were tracked down and arrested from Odisha and West Bengal, marking the culmination of an investigation that combined financial trail analysis, digital evidence, and coordination across state lines.

₹26.2LAmount defrauded from the victim

5Accused arrested

149Linked cybercrime complaints nationwide

₹6.53Cr+Suspicious transactions traced to one account

How the Scam Unfolded

The case began when the victim was added to a WhatsApp group where the alleged fraudsters posed as market experts, sharing stock tips and promising outsized returns through a proprietary trading application. Trust built over time through the group, and the victim was eventually pushed toward a fake trading website and told to open an account on it.

From there, the group persuaded him to transfer money across multiple bank accounts, positioning each transfer as further investment capital that would multiply his returns. Over time, the transfers added up to roughly ₹26.2 lakh before the scheme unravelled.

Following the Money

The investigation, supervised by Assistant Commissioner of Police (Cyber Crime) S.E. Daniels and led on the ground by Police Inspector V.D. Mandora, found that the fraud relied on a layered network of rented and mule bank accounts rather than a single operator. Two of the accused had opened a current account in the name of a shell entity, which was then effectively rented out to other members of the network for a commission, changing hands repeatedly before the money reached its final destination.

That single account alone was found to be linked to 149 separate cybercrime complaints filed across India, with suspicious transactions exceeding ₹6.53 crore — a scale that points to a much larger fraud operation than one victim’s case would suggest.

Ranjan alias Sunil, 33 — Sundargarh district, Odisha

Krishna Kumhar alias Kishan, 54 — Jharsuguda district, Odisha

Subaschandra, 52 — Gajapati district, Odisha

S.K. Alamgir, 41 — Purba Bardhaman district, West Bengal

Basantsingh alias Singhsar alias “Big Boss”, 45 — Murshidabad district, West Bengal

A Playbook Seen Across India

This bust fits a pattern being replicated across Indian cities. Fraud rings increasingly lean on social messaging groups, fabricated trading platforms, and rented or mule bank accounts to insulate the real operators from the money trail. Similar cases have recently surfaced in Chandigarh, Delhi, and Sonepat, generally following the same script: an unsolicited investment “opportunity,” a period of small profitable withdrawals to build confidence, and then a lock-out once the victim commits larger sums.

Staying Safe from Fake Trading Schemes

• Be wary of unsolicited investment tips shared in WhatsApp or Telegram groups, especially from unknown contacts.
• Verify any trading platform or app through official regulatory channels (SEBI-registered brokers, for instance) before depositing funds.
• Treat early “profits” or partial withdrawals with suspicion — they are a common trust-building tactic before larger losses.
• Avoid transferring money to personal or unfamiliar business bank accounts for “investment” purposes.
• Report suspected fraud immediately to the national cybercrime helpline (1930) or via cybercrime.gov.in.

Investigators say the case underscores how interstate coordination and financial forensics are increasingly essential tools in unwinding these networks, which often span multiple states specifically to complicate tracing and prosecution.