How Rajasthan gang used UPI to defraud 4 crore electronics chain in Hyderabad

The gang used the UPI mode to defraud the electronics showroom of 40 million rupees. (Symbolic image)

Hyderabad:

Thirteen people were arrested for allegedly cheating an electronics retail chain in Hyderabad of Rs 40 million by using UPI as a means of payment and then filing a complaint with the bank to recover the amount. Police seized Rs 1.72 lakh in cash and electronic goods worth over Rs 50 lakh.

Bajaj Electronics, owner of a chain of showrooms, had filed a complaint of cheating at several police stations in Cyberabad, Hyderabad, Rachakonda and other areas.

During investigation, police found the same modus operandi in several cases. They found that a group visited these showrooms and selected home appliances for purchase. At the time of payment, they shared the showroom's UPI scanner with an accomplice from Rajasthan. The accomplice then transferred the amount and the gang members disappeared with the appliance. Soon after, the accomplice who paid the amount filed a chargeback complaint with the bank – such a complaint is filed after a disputed transaction. After this complaint, the transaction was reversed and the gang got back the money it had paid for the appliance. Their appliance

Investigations revealed that this gang had at least 13 members aged between 20 and 25. Some of them lived in Hyderabad while the others lived in Rajasthan.

As the police discovered, the gang sold the devices and shared the profits.

Those arrested in the case include SomRaj, Sunil, Sharwan, Somraj, Shivalal, Ramesh, Shrawan, Pappu Ram, Shravan, Rakesh, Ramesh and Ashok Kumar.