The Uttar Pradesh Special Task Force (STF) has exposed a notorious gang involved in deceiving people under the pretext of currency exchange. Additionally, they were supplying bank accounts for cyber fraud. The gang was found with ₹25.6 lakh in cash, a currency counting machine, eight mobiles, a homemade handgun, three live cartridges, fake Aadhaar cards, and a Tata Safari. Six members were arrested, though many of their accomplices remain at large.
According to the agency, the STF executed this operation late Thursday night at a flat within the Gaur Siddhartham Society located in Kavi Nagar. During the raid, six group members—Shubham Raj alias Baba, Pradeep Kumar, Dheeraj Mishra, Sonu Kumar, Amarjeet Kumar, and Anurag—were detained. Investigations revealed the gang had been active across Delhi-NCR, especially in Ghaziabad, Noida, and Greater Noida, exploiting fake identities to rent flats and conduct their illicit activities.
Deceptive Currency Exchange
The STF's investigation unveiled that this gang was ensnaring people with false promises of exchanging currency. The culprits would lure victims, promising more cash in return for their ₹500 and ₹2000 notes. When the victims arrived with their money, gang members would artfully place real currency on top of the bundles, while the rest was merely filled with ordinary paper. The victims, thus deceived, believed they had received a full bundle of genuine notes when, in fact, they were swindled.
As revealed by the STF, this group was not limited to fake currency exchanges alone but was also heavily involved in cyber fraud. The syndicate members provided what are termed 'mule accounts.' These accounts were instrumental in laundering fraudulently acquired funds from fake loan apps and online gaming apps. The investigation uncovered nearly 100 such bank accounts linked to cyber fraud.
Unveiling of Transcations Worth Crores
The police investigation disclosed that over 25 cyber fraud complaints have been registered through this network, involving a total of ₹1.09 crore. Funds were shifted across many states using these accounts.
During questioning, the main accused, Shubham Raj alias Baba, confessed to learning this trick from another fraudster in Bihar. Subsequently, in 2023, he formed his gang in Delhi. Officials further disclosed that some bank employees allegedly abetted the gang by providing accounts for fraudulent transactions in exchange for monetary gains.
The High-Profile Lifestyle of the Gang
The gang members maintained residences in lavish societies, renting flats to avert suspicion. They posed as significant businessmen utilizing expensive vehicles. Often, they approached victims as bank officials or businessmen, using the guise of currency exchange or transactions to seize funds.
STF Operations and Futuristic Investigations
The Ghaziabad STF has filed cases against the accused. Currently, the gang leader and several other members are on the run. Police teams are persistently on their trail. STF officials assert that this gang network spans multiple states, suggesting further significant revelations in forthcoming investigations.
The cyber cell is actively engaged in linking victims' complaints with bank account activities. An STF statement asserted that this gang systematically drained people's hard-earned money. They operated like a well-organized network. Senior STF officials confirmed the ongoing interrogation of the detainees.
