Dehradun: Uttarakhand STF has unravelled one of the biggest cyber fraud cases of Rs 250 crores and arrested its mastermind from Noida Sector 99 on Tuesday. The case pertains to the POWER BANK app loaded on Google play store with millions of downloads .
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"Public money is siphoned off through cryptocurrency into foreign countries as per preliminary investigation. The modus operandi is using Indian registered companies as shell companies for money-laundering to the tune of approximately Rs 250 crore," an official stated. "The accused used to lure people by claiming to double their money in 15 days. The cyber frauds were being carried out by foreign traders through Indian bank accounts," ADG Abhinav Kumar in a press conference said.
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STF launched the hunt on the complaint of victim Rohit Kumar. The accused has been identified as Pawan Kumar Pandey, who is one of the Indian company directors. STF has also recovered 19 laptops, 592 sim cards, five mobile phones, four ATM cards and one passport from his possession. Many more Indian companies on the radar and key suspects are likely to be of Chinese origin, ADG Abhinav Kumar stated.
