Pimpri-Chinchwad Police Arrests Six Including Employees Of FinTech Companies In Online Scam
pimpri-Chinchwad, March 11, 2025: In a major crackdown on cybercrime, the Pimpri-Chinchwad Cyber Police have arrested six individuals, including an employee of fintech firm Airpay, for their involvement in a multi-crore online fraud racket. The accused exploited fintech platforms such as Instant Pay, Airpay, and Spicemoney to scam victims by promising lucrative investment returns.
How the Scam Operated
The fraudsters ran WhatsApp groups called ‘Wealth Knowledge Group’ and ‘VIP Service Group 422’, where unsuspecting individuals were lured into fake online trading schemes. Posing as financial experts, the group admins, Arya Anand and Sethurathnam Ravi, tricked victims into investing in a fraudulent app called ‘Ad-bir Capable’, assuring high profits.
Victims were instructed to transfer money into designated bank accounts, supposedly for stock trading. However, once the funds were received, the fraudsters disappeared, leaving investors at a total loss. One complainant alone reported losing ₹2.8 lakh.
Investigation Leads to Key Arrests
A detailed probe by the police traced the fraudulent transactions to an IDBI Bank account linked to ‘Infinity Enterprises’ in Panvel. Analysis of financial statements revealed massive transactions, with funds being further routed to AU Small Finance Bank and Axis Bank accounts under ‘Siddhi Telecom’.
One of the arrested suspects, Naresh Sujaram Chaudhary, confessed to cashing out large sums for a prime accused named Nathu, in exchange for a commission. Another key accused, Jilani Jani Sheikh, admitted to facilitating ₹80 lakh in cash withdrawals as part of the racket.
Who Are the Arrested Accused?
The six individuals arrested in connection with this cyber fraud are Naresh Sujaram Chaudhary – Xerox shop owner, Mumbai, Jilani Jani Sheikh – Fabrication business, Mumbai, Amit Sahu – Online money transfer operator, Uran, Irfan Khalil Sheikh – Online money transfer operator, Panvel, Kiran Vasudev Jethnani – Clothing and money transfer business, Panvel and Makarand Sanjeev Vilegaonkar – Area Sales Manager, Airpay, Panvel
Legal Action and Further Investigation
The Pimpri-Chinchwad Cyber Police have charged the accused under:
- Sections 316(2), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita (BNS)
- Sections 66C and 66D of the Information Technology Act, 2000
Further investigations are underway to track additional bank accounts and possible links to other cyber fraud networks.
Police Advisory: Beware of Online Scams
Authorities have urged citizens to remain cautious while engaging in online financial transactions. Criminals often misuse KYC documents to open fraudulent accounts. Residents are advised to verify fintech services and report suspicious online activities to prevent cyber fraud.
Investigation Led By:
This operation was conducted under the leadership of: Vinaykumar Chaubey – Commissioner of Police, Pimpri-Chinchwad, Dr. Shashikant Mahavarkar – Joint Commissioner of Police, Vasant Pardeshi – Additional Commissioner of Police, Sandeep Doifode – Deputy Commissioner of Police (Crime) and Dr. Vishal Hire – Assistant Commissioner of Police (Crime-1).
The arrests were carried out by Inspector Ravikiran Nale and his cybercrime investigation team.
Stay Safe from Cyber Fraud!
The Cyber Police Department encourages residents to avoid unauthorized investment schemes, verify online financial services, and report cyber frauds immediately.