Fraudsters set up bogus firms to cheat clients of targets

Tricked victims into sending money to bank accounts opened in the name of the firms

The accused arrested in the email hacking racket busted earlier this month registered several bogus companies with names similar to the establishments they planned to defraud, officers of the Juhu police station have said.

Hacking email

Last week, the police arrested Ravi Dubey and Jitendra Rathod for allegedly hacking the email id of the costume supplier of Yash Raj Films and cheating them of ₹1.75 lakh. The accused sent the ‘updated bank account’ details from the costume supplier’s email id to the film production house. Yash Raj Films then ended up sending the costume supplier’s dues to the accused’s account.

An officer with the Juhu police said, “We found the visiting cards of several bogus firms set up by the accused to open new bank accounts. This was a well thought out strategy to hoodwink the clients of the target companies. Clients would be less suspicious if they were asked to send money into a bank account opened in the name of a company and not an individual. Whenever a person adds a new payee using net banking, the full name of the beneficiary as per the bank’s records is displayed.”

The Juhu police have started collecting the details of all bank accounts opened by the accused in the names of bogus companies. The police will also examine the transactions made through these accounts to find out the scope and the extent of the racket.

Deposit slips

The police had recovered cash and cheque deposit slips while conducting a search at the residences of Mr. Dubey and Mr. Rathod. The investigation revealed that several lakhs of rupees was routed through various bank accounts, making it difficult for the police to track the trail of money.

Bogus details

Police sub-inspector Santosh Dhawle said, “Inquiries have revealed that the duo was tasked with setting up bank accounts using bogus details. They dispersed proceeds from the crime among various players involved in the racket.”

Mr. Dhawle added, “We have identified three more suspects who hacked email ids and masterminded the racket. Multiple teams are working in Mumbai and Rajasthan, where some of the accused hail from, to trace and apprehend the suspects.”

The police are finding out if more people were tasked with opening and operating bank accounts for the masterminds of the racket.

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