Hyderabad: Gang cheats Bajaj Electronics of Rs 4 crores by exploiting refund policy; 13 held

Hyderabad: A 13-member gang from Rajasthan were arrested on Sunday for allegedly masterminding high-tech UPI frauds and cheating schemes. The gang is said to have cheated Bajaj Electronics of Rs 4 crores.

The Shamshabad CCS Police, who made the arrests along with KPHB, Madhapur and Narsingi police in the Cyberabad Commissionerate, seized Rs 1.72 lakhs in cash and electronic goods worth Rs 50 lakhs from the accused.

The police said that the gang orchestrated a large-scale fraud operation under several police stations under the Cyberabad, Hyderabad and Rachakonda Commissionerates, as well as in other metropolitan cities across Telangana State, with all of them involving Bajaj Electronics outlets, totalling losses exceeding Rs 4.00 crores.

Upon receiving a complaint from Bajaj Electronics, the police discovered that individuals from Rajasthan visited the showrooms and purchased expensive electronics.

The gang would reverse the transaction through a false complaint

The gang, comprising more than 13 members aged 20-25 years from Rajasthan, operated in groups. Some members stayed in Hyderabad, while their associates remained in Rajasthan. Members in Hyderabad would visit Bajaj Electronics showrooms to purchase high-value electronic items and send the showroom’s UPI QR code to their associates in Rajasthan, who would transfer the money through UPI. After receiving the items, they would sell them and split the profits. The associate who transferred the money would later file a fraudulent complaint requesting a chargeback, resulting in a refund of the amount.

The accused have been identified as Som Raj, Sunil, Lac Ram, Sharwan, Somraj, Shivalal, Ramesh, Shrawan, Pappu Ram, Shravan, Rakesh, Ramesh and Ashok Kumar.

Based on their confessions, the police seized Rs 1.62 lakhs in cash and electronic goods worth Rs 50 lakhs, which were part of the fraud.

All the accused have been arrested and will be sent for judicial remand.