- Pune Cyber Police arrested a seventh suspect in the Rs1.6 crore online share trading fraud case.
- The latest accused, Dinesh Rajpurohit, collected fraudulent money and converted it into cryptocurrencies.
- The fraud involved a Hingoli-based multi-state cooperative bank’s director and technical officer who operated mule bank accounts.
Pune Cyber Police have apprehended a seventh suspect in connection with a Rs1.6 crore online share trading fraud case. Dinesh Rajpurohit, a 43-year-old Kondhwa resident, was arrested on April 10 and remains in police custody until April 17, according to authorities.
Senior Inspector Swapnali Shinde of the Cyber police revealed that Rajpurohit admitted during questioning to maintaining connections with Cambodia-based handlers for approximately 18 months. “To purchase cryptocurrencies from his handlers in Cambodia, Rajpurohit used to get money from mule bank accounts used by Suryavanshi and Kambhoj,” Shinde explained.
Banking Officials Involved in Fraud Network
Between March 27 and April 5, police had already arrested six individuals including the cooperative bank’s director Govind Sanjay Suryavanshi (22) and technical officer Rohit Sushil Kambhoj (32), both Wagholi residents. The other suspects include Ketan Umesh Bhiware (27) of Kharadi, Nikhil alias Kishor Satav (32) and Babarao alias Omkar Bhawar (22), both from Wagholi, and Jabbarsingh Arjunsingh Purohit (45) of Dharavi.
Investigations revealed that Purohit, a cryptocurrency trader, maintained close relationships with the bank officials Suryavanshi and Kambhoj while also connecting with Rajpurohit. Purohit managed details of the mule bank accounts containing funds defrauded from online share market victims.
Cryptocurrency Conversion Scheme
Authorities noted that the multi-state cooperative bank, registered in Hingoli with a branch in Kharadi, has approximately 300 account holders. “Suryavanshi and Kambhoj were operating many mule bank accounts, including many in their own bank,” Shinde stated.
The fraud operation specifically targeted victims across India, with police establishing the group’s involvement in roughly 30 share trading frauds spanning multiple states. Rajpurohit, who studied until HSC and ran a pharmacy shop in Kondhwa, played a crucial role in converting the fraudulent funds.
“Instead of keeping money in mule accounts, which can be frozen by the police, the racketeers invested all the money generated from fraud in cryptocurrencies,” Inspector Shinde added. Police have identified additional individuals connected to the Cambodia-based handlers and continue their investigation into this sophisticated fraud operation.
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