Puducherry cyber wing bust major online scam

Puducherry Cyber Police bust multi-crore online scam, arrest seven suspects, seize assets, and identify over 1,57,346 potential victims.

The Puducherry Cyber Police have busted a multi-crore online scam that duped a large number of unsuspecting investors across India and arrested seven persons in this connection.

Senior Superintendent of Police (Crime & Investigation) R. Kalaivanan, accompanied by Superintendent of Police S. Bascarane, told reporters that a total of 64 bank accounts connected to the fraudulent activities had been traced, revealing that ₹56 crore of fraudulent funds had been transacted in the last nine months.

Additionally, more than 50 computers, luxury vehicles, a high-end bike, and multiple credit and debit cards have been seized during the operation. It has also come to light that the fraudsters purchased luxury bungalows in Bengaluru, along with resorts in Yercaud, Puducherry, and Kodaikanal using the swindled money.

Investigators believe this to be merely the tip of the iceberg and have already collected details on 1,57,346 potential victims across India through the websites of Global Software Solution, Algo Master trading, and Gleam Global Services. The police will be reaching out to these individuals to gather information on how many were affected.

“The uncovering of the fraud and arrests resulted from an extensive investigation initiated on a complaint from a local resident who fell victim to a dubious scheme,” the SSP said.

According to the complaint from Kokila, she had registered her details with Global Software Solution Trading Company, and thereafter received a phone call from a representative claiming to be associated with Global Software Solution and Algo Master trading company. Convincing her that investing through their proprietary robotic trading software would yield high profits, Kokila was persuaded to pay for the software initially, followed by a series of instalments totalling ₹18 lakhs for trading. Unfortunately, she never received any returns, and contacting the fraudsters became impossible.

Realising she had been duped, the woman lodged a formal complaint with the Puducherry Cyber Crime Police Station who registered a case under sections 318(4), 319(2) BNS and Sec 66 D of the IT Act, 2000.