Gang swindles Hyderabad's Bajaj Electronics of Rs 4 crore

In a significant fraud case, 13 individuals have been arrested for allegedly duping Bajaj Electronics, a prominent electronics retail chain in Hyderabad, of Rs 4 crore using the Unified Payments Interface (UPI). The gang employed a sophisticated method of payment fraud involving chargeback complaints.

Bajaj Electronics, which operates multiple showrooms, reported fraud and cheating cases at various police stations across Cyberabad, Hyderabad, Rachakonda, and other areas. During the investigation, police noticed a consistent pattern in multiple cases.

The Modus Operandi:

The gang members would visit Bajaj Electronics showrooms and select various home appliances for purchase. During the payment process, they shared the showroom’s UPI scanner code with an associate based in Rajasthan. The associate would then transfer the required amount, allowing the gang members to take the appliances.

Immediately after the purchase, the associate would file a chargeback complaint with the bank, claiming that the transaction was fraudulent. This action led to the reversal of the payment, effectively allowing the gang to recover the money they had "paid" for the appliances.

Investigation and Arrests:

The investigation uncovered that the gang consisted of 13 individuals aged between 20 to 25 years. Some members resided in Hyderabad, while others were based in Rajasthan. The police arrested SomRaj, Sunil, Sharwan, Shivalal, Ramesh, Shrawan, Pappu Ram, Shravan, Rakesh, Ramesh, and Ashok Kumar.

Recovery:

The authorities recovered Rs 1.72 lakh in cash and Rs 50 lakh worth of electronic goods from the gang members. The police are continuing their investigation to identify any additional accomplices and recover more of the stolen goods.