False investment platform setup, victims' funds defrauded out

The police stated that the fraud group, under the guise of "safe, fast, and high-yield" investment rhetoric, promoted so-called "professional stock investment plans" and successfully gained the trust of investors through false profit screenshots and forged customer recommendations.

A large number of victims transferred funds into designated bank accounts on the platform without knowing the truth, resulting in the loss of both the principal and profits.

A suspect has been arrested, leading to multiple fraud cases

The police traced the flow of one of the 500000 rupees and found that the amount was transferred to an account under Yes Bank, named M/S MaxmorePayment Digitech Pvt Ltd C. The account holder is 29 year old Mohammad Kalim Akbar Ali Khan, residing in the Sakinkaka area of Mumbai.

After interrogation, it was confirmed that Mohammed Karim was not only the holder of the account, but also personally received and processed some of the fraudulently obtained funds. The police arrested him on suspicion of financial fraud and are currently conducting a thorough investigation.

Shockingly, the account was involved in as many as 51 complaint cases, including:

Starting from 7, it is the first layer of transfer behavior;

Starting from 31, it is the second level of fund circulation;

And associate it with other registered fraud cases of the Northern and Eastern Internet Police Stations.

The police suspect that the account may be a transit channel used by multiple fraud groups for "money laundering" or "fund distribution".

At present, the police have reported the case to the victims and will continue to track down the mastermind behind the fraud network, and investigate whether there are other accomplices at large. This case is currently under full investigation.