Surat, August 26, 2026 (Yes Punjab News)
The Surat City Cyber Crime Cell has arrested two men from Maharashtra in connection with an alleged online share-market investment scam in which a Surat resident was duped of nearly Rs 9.59 lakh through an Instagram advertisement.
According to police, the accused allegedly operated as part of a planned network that targeted prospective investors through Instagram advertisements before moving them to Telegram groups. Victims were allegedly directed to a fake investment website through links shared in the groups and encouraged to register and open Demat accounts.
Police said the complainant transferred Rs 9,58,998.98 to multiple bank accounts provided through the website for purported share-market investments. The online platform allegedly showed the investments generating profits, with the complainant’s Demat account reflecting the deposited amount and purported returns.
The fraud came to light when the complainant attempted to withdraw the money but the withdrawal was not processed.
A case was registered at the Cyber Crime Police Station under Sections 318(4), 336(2), 338, 336(3), 340(2), 61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, along with Section 66(D) of the Information Technology Amendment Act, 2008.
Following directions from senior officers, Inspector M.C. Nayak and his team conducted a technical investigation to identify those allegedly involved.
The arrested accused have been identified as Uddhav alias Ravi Gondhali, 27, a decoration worker, and Gopendra alias Gopu Shinde, 23, a student. Both are residents of Maharashtra’s Parbhani district.
Police alleged that Uddhav had established a firm in his name and obtained an Udyam Certificate before opening a current account with Bank of India in the firm’s name. Investigators said he subsequently handed the account to Gopendra for a commission of Rs 5,000.
The account was allegedly later made available to absconding accused in exchange for a two per cent commission on transactions. Police said transactions worth Rs 1.47 crore were carried out through the account between September 1, 2025 and January 21, 2026.
A check of the account through the National Cyber Crime Reporting Portal (NCCRP) allegedly showed 13 complaints from different states, involving reported fraud of Rs 40.48 crore.
The investigation is continuing.
Police have warned people against responding to social media advertisements promising high returns from share-market investments and advised them to verify the credentials of investment platforms and individuals before transferring money.
The NCCRP advises victims of financial cyber fraud to report incidents immediately through the 1930 helpline. Police said prompt reporting can improve the chances of freezing funds in beneficiary bank accounts.
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