Hyderabad: Thirteen individuals have been arrested for allegedly defrauding the electronics retail chain, Bajaj Electronics, of ₹ 4 crore using a fraudulent UPI payment scheme. The gang used UPI transactions to purchase home appliances and then lodged complaints with banks to reverse the payments, effectively getting the goods for free. Police have seized ₹ 1.72 lakh in cash and electronic goods worth over ₹ 50 lakh.
Modus Operandi
The group would visit Bajaj Electronics showrooms, select home appliances, and scan the showroom’s UPI code. An accomplice based in Rajasthan would then transfer the required amount. After receiving the products, the accomplice would file a chargeback complaint with the bank, claiming a disputed transaction. As a result, the bank would reverse the payment, and the gang would recover the money they paid for the goods.
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Widespread Fraud
Bajaj Electronics reported cases of fraud and cheating across multiple police stations in Cyberabad, Hyderabad, Rachakonda, and other areas. The police identified a consistent pattern in the complaints, leading to the discovery of the gang’s operations. The group, consisting of individuals aged 20-25, operated between Hyderabad and Rajasthan. After obtaining the appliances, the gang would sell them and split the profits.
Arrests and Seizures
Among those arrested are SomRaj, Sunil, Sharwan, Shivalal, Ramesh, Pappu Ram, Shravan, Rakesh, and Ashok Kumar. The police are continuing their investigation into the case, having already recovered cash and electronic goods during the operation.
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