Mobile App: Two in custody for Rs 520 crore fraud

Surat, Jun 10 (PTI) Two people wanted in connection with cheating people of Rs 520 crore through mobile app have been detained by Surat Police in Gujarat. An official gave this information on Thursday.

Police have nabbed Vijay Banjara, a resident of Magdala Road, and Jai Prakash, a resident of Adajan in Surat city, the official said. These two were allegedly wanted by the Bengaluru Police in a case of cheating lakhs of people.

According to a Surat police release, the Bengaluru police were on the lookout for both of them as they have been booked for cheating under the Information Technology Act.

Both these fraudsters were part of a larger network that duped more than five lakh people in different parts of the country to the tune of more than Rs 520 crore within two months. According to the police, this network used to cheat people by promising attractive returns on investment on two mobile apps.

The Delhi Police Cyber ​​Cell on Wednesday arrested 11 people, including two chartered accountants, in this case, the release said. A senior Delhi Police official had said that people across the country were complaining about two mobile apps – Power Bank and EZ Plan – on social media. These apps were promising attractive return on money investment.

He told that the Power Bank app was telling itself to be an app from Bangalore, while its server has been found to be from China.

Police said that initially this app also made small payments ranging from five to 10 per cent on the money invested by people so that more and more people could deposit more amount. After this, after gaining trust, people started investing more and more money and also promoted this app among their friends and relatives. It was found that around 25 shell companies were formed by the accused.

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