Mumbai: The North Cyber Police Station has arrested an active member of a cybercrime syndicate involved in defrauding citizens through fake share trading apps. The accused, Vinayak Pramodkumar Barnwal (28), a resident of Kasheli, Thane district, was arrested for his role in a Rs 27.44 lakh online fraud targeting a 58-year-old woman from Dahisar.
Modus Operandi Uncovered
According to the complaint filed on June 10, 2025, under BNS Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2) along with Sections 66(C) and 66(D) of the Information Technology Act, the victim was lured through a WhatsApp contact named “Shivani” (number: +91 99032 30739) who sent her advertisements about share trading promising high returns.
She was added to a WhatsApp group called “TBVIP168” where she received stock tips and was instructed to install a fake trading app (m.thstocktrade.com) resembling a legitimate platform.
Money Laundering Trail Detected
Enticed by seemingly large profits displayed on the app, the complainant was tricked into depositing large sums of money into various bank accounts between June and July 2025. The total amount lost was Rs 27,44,236. The fraudsters used fake IPO and block deal schemes to gain her trust and extract funds under the pretense of investment.
Further investigation revealed that on June 3, 2025, the victim transferred ₹4 lakh into a first-level beneficiary bank account, of which ₹2.3 lakh was swiftly rerouted into second-tier accounts. Cyber police traced one of these bank accounts to Vinayak Barnwal, who knowingly offered his personal account for laundering the proceeds of the crime.
Over 100 Complaints Linked
Upon arrest, police recovered one mobile phone used in the fraud. Checks on Barnwal’s bank account revealed his involvement in over 106 cyber fraud complaints registered across various Indian states. He was found to be a critical conduit in the nationwide racket.
The arrest was made under the guidance of Mumbai Police Commissioner Deven Bharti, Joint Commissioner (Crime) Lakhmi Gautam, Additional Commissioner Shailesh Balkawade, and DCP (Cyber) Purushottam Karad. The operation was executed by Senior PI Kiran Aher, PSI Sanjay Pawar, and Constables Vasaykar, Nadgauda, and Parab.
Ongoing Probe
Dcp Karad appeals, Citizens are advised not to fall prey to online messages promising quick profits through share trading on unknown platforms or WhatsApp groups. Never share or allow the use of your personal bank account for third-party transactions. If you suspect you are a victim of cybercrime, immediately contact the National Cyber Helpline at 1930 or visit the nearest police station.
The investigation is ongoing, with police pursuing other members of the syndicate and tracking digital and financial trails to uncover the full extent of the fraud network.
