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Navi Mumbai: Bank manager and employees busted for share trading fraud
Updated On: 03 April, 2024 07:00 AM IST | Mumbai | Faisal Tandel
Police apprehend two suspects, uncovering a sophisticated scheme that exploited financially vulnerable individuals
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Two arrested individuals with the Navi Mumbai cyber cell
The Cyber Cell of the Navi Mumbai Police has made significant strides in apprehending individuals involved in a share trading fraud scam. Among those arrested are a manager and a former employee of a prominent private sector bank. According to police reports, the accused individuals employed a deceptive tactic wherein they used the bank accounts of financially vulnerable individuals to conduct illicit transactions related to share trading.
The police said the arrested accused are identified as Pravin Kumar Ramesh Mishra 26, a former employee of a private bank, and Ashok Shamlal Chavan 27, Emerging Corporates Business Development Manager of IndusInd Bank. “We have arrested both the accused and further investigation is on. The accused were arrested on March 29 and after being produced in court have been remanded to police custody for five days” said Gajanan Kadam, Senior Police Inspector, Navi Mumbai cyber Cell.
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