Pimpri-Chinchwad police invoke MCOCA against six over Rs 86 lakh fake trading app fraud
Pimpri-Chinchwad police have invoked MCOCA against six men they accuse of belonging to a syndicate that took Rs 86 lakh from a senior citizen through a fake trading app and turned it into USDT. These are allegations; no conviction is reported.
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Source: freepressjournal.in · published
What happened
The Free Press Journal reported on 18 October 2026 that Pimpri-Chinchwad police have invoked the Maharashtra Control of Organised Crime Act (MCOCA) against six suspected members of a cybercrime syndicate accused of cheating a senior citizen of Rs 86 lakh through a fake trading app. The case was registered at the Pimpri-Chinchwad Cyber Police Station on 17 July 2026 under the Bharatiya Nyaya Sanhita and Sections 66(C) and 66(D) of the IT Act. These are police allegations; none of the six has been convicted, and no conviction is reported. The Indian Express, Times of India and Hindustan Times also reported the action, citing a police press release.
Police arrested Tejas Dnyanoba Lokhande (24, Pune), Avinash Dnyanoba Bakalikar (28, Latur), Harshal Dilip Bora (34, Ahilyanagar), Sonu Harish Sharma (21, Navi Mumbai), Alex alias Gaurav Ramesh Gadge (24, Mumbai) and Akhil Srinivasrao Nelluri (24, Hyderabad). Additional Commissioner of Police (Crime) Sarang Awad ordered MCOCA sections 3(1)(ii) and 3(4) added after reviewing the records. Police secured a court order to return Rs 28 lakh, frozen in bank accounts during the investigation, to the complainant, and say further members are being sought.
How the scheme worked
According to police, the group used social media to lure people with promises of high returns on stock-market investments through a fake trading app. Investigators traced the victim's money through various bank accounts and questioned the account holders. Police allege the money was moved through different accounts and converted into cryptocurrency including Tether (USDT), and that the suspects stayed in contact with an alleged main suspect based in Cambodia.
Police also allege the syndicate is linked to fraud, kidnapping, extortion, robbery, drug trafficking and document forgery in Pimpri-Chinchwad, Pune, Nashik, Chhatrapati Sambhajinagar and Gujarat. It is the second time in 2026 that Pimpri-Chinchwad police have used MCOCA against a suspected cyber gang.
Why it matters
Fake trading apps show rising profits on screen while the deposits are moved out through bank accounts and crypto. The quicker a victim reports, the better the chance of freezing funds, as happened with part of this money.
Source
The Free Press Journal, "Pimpri-Chinchwad Police Invoke MCOCA Against Cyber Gang In ₹86 Lakh Trading App Fraud Case" (18 October 2026).
Red flags
- Stock tips and trading-app invitations from strangers on social media or WhatsApp groups.
- Apps that show large paper profits but block or charge for withdrawals.
- Requests to deposit money into personal or unrelated bank accounts.
- Pressure to invest more to reach a 'VIP' level or unlock gains.
If you were targeted
- 1Use only SEBI-registered brokers and apps downloaded from official stores after checking the broker's registration.
- 2Don't pay to withdraw 'profits'.
- 3Report quickly by calling 1930 and at cybercrime.gov.in; fast reports help police freeze funds.
- 4Keep screenshots, app names and transaction records for the police.