Cyber Fraud Alert: No Bail for Students in ₹4 Cr Online Scam
Cyber Fraud Alert: No Bail for Students in ₹4 Cr Online Scam
Mumbai, Maharashtra: Observing that such cases are common in the country, a special CBI court denied bail to 23-year-old Shaurya Singh, a student from Nagpur, in connection with a large-scale cyber fraud case involving about ₹3.81 crore.
He is a first-year student at Nagpur pursuing a bachelor’s degree in computer applications. On July 13, he was taken into custody.
The prosecution claims that Shaurya Singh helped one Sudhir Palande and other co-accused by taking part in the transfer of “kits” — such as SIM cards, ATM cards, and checkbooks — that were necessary for the cybercrime.
Additionally, he allegedly utilized his Nagpur bank account to make payments for the accused Sudhir Palande and others’ hotel stays and meals.
He is also charged with renting out a COINCDX app account linked to his bank account, which allowed him to get USDT (Tether cryptocurrency) back for his costs.
According to reports, he was paid 500 USDT in commission. S.P. Cargo and Courier Services Private Ltd., its director, Sudhir Palande, and other unidentified individuals were the original targets of the FIR in this case.
About The Author:
Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blogs, he also writes for brands including Craw Security, Bytecode Security, and NASSCOM.
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