Cyber Police Crack Down on FinTech Fraud: Six Arrested for Fake Investment Schemes Using S. Ravi’s Name on WhatsApp
Cyber Police Bust WhatsApp Scam Exploiting S. Ravi’s Name In a major cybercrime crackdown, the Pimpri-Chinchwad Cyber Police have arrested six individuals, including an employee of fintech firm Air pay, for their involvement in a multi-crore online fraud racket. The accused exploited fintech platforms such as Instant Pay, Air pay, and Spice money to dupe victims with fraudulent investment schemes. How the Scam Operated The fraudsters managed WhatsApp groups named Wealth Knowledge Group and VIP Service Group 422 , where they posed as financial experts to lure unsuspecting investors. The group admins, Arya Anand and S. Ravi , deceived victims into investing in a fraudulent app called Ad-bir Capable , promising high returns. Victims were instructed to transfer money to specific bank accounts under the pretense of stock trading. Once the funds were received, the scammers vanished, leaving investors at a total loss. One complainant alone reported losing ₹2.8 lakh. Key Arrests and Inve...