A network of shell companies and proxy bank accounts has come under investigation after the South Region Cyber Police arrested 3 men in Nagpur for allegedly facilitating the movement of money generated through online investment frauds. The investigation has linked the accused to 73 cybercrime complaints registered across India, including 6 cases in Mumbai.
The arrests were made on November 2, following the discovery of a fraudulent transaction worth Rs 24.75 lakh. Police identified the accused as Amit Diliprao Kale, Ritik Shailesh Dhargave and Aniruddha Satish Uke. Investigators allege that the trio established a fictitious company, Grain Garden Delight Pvt Ltd, and used its current bank account to route money collected from victims of online share trading scams.
The investigation began after cyber officers traced Rs 24.75 lakh, linked to an online share trading fraud complaint in Mumbai, to an account held by Grain Garden Delight Pvt Ltd at the Central Bank of India’s Jaripatka branch in Nagpur.
Using technical surveillance and information from the National Cyber Crime Reporting Portal, a police team tracked the account’s activities to the Jaripatka area and arrested Dhargave, who was listed as a director of the company.
Further questioning reportedly established the involvement of Kale and Uke in arranging fabricated rental agreements, forging documents to register the company and managing its commercial banking facilities.
Investigators also found that communication channels were allegedly misused to coordinate transactions. According to police, Kale used a mobile phone fitted with a SIM card registered in Dhargave’s name and linked to the company’s bank account. The device was reportedly used to verify fund transfers, communicate with external associates and route proceeds to different locations.
During the raid, police seized 25 SIM cards, 11 cheque books and passbooks linked to various accounts, and 11 rubber stamps bearing the names of multiple shell companies. Other seized items included 3 stamp pads, ATM and debit cards, PAN cards, QR code sheets and corporate documents associated with fictitious entities.
The recovered material indicates that the accused allegedly operated a network of accounts to distribute and move fraudulent deposits through multiple banking channels.
An analysis of digital devices and banking records has linked the 3 men to 73 cyber fraud complaints across the country, including 6 registered in Mumbai.
The South Region Cyber Police Station has registered a case under Sections 318(4), 319(2), 338, 61(2) and 340 of the Bharatiya Nyaya Sanhita, along with Sections 66C and 66D of the Information Technology Act. The provisions cover offences related to cheating, forgery, criminal conspiracy, impersonation and identity-related digital fraud.
Police are now examining the wider financial trail to establish whether the accused directly targeted retail investors or primarily provided banking channels for other cybercrime networks. Investigators are also working to identify additional beneficiary accounts, shell companies and associates linked to the alleged interstate operation.
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