In a major breakthrough, the Visakhapatnam City Police have dismantled Peace Pay, an illegal payment gateway aggregator, following a tip-off from central agencies. City Police Commissioner Sankabrata Bagchi addressed a press conference on Thursday, revealing the details of the cyber fraud scheme and the arrest of seven individuals, including women, involved in the operation.
The prime suspects, identified as Sai Ram and Girish, operated an elaborate scam using a staggering array of equipment. Among the items seized were 135 unregistered SIM cards, 65 mobile phones, one desktop computer, nine laptops, eight CPUs, nine monitors, and five TRX hardware devices. The police also confiscated 699 bank accounts with cheque books, a motorcycle, and a car used in the fraudulent operations.
Commissioner Bagchi explained that the suspects posed as operators of a cosmetic distribution company, enticing investors with high-return schemes. In reality, they were running cyber frauds and illegal betting operations using mobile applications such as Peace Pay, Gogubet, and Wags of Ganga 7. The accused used Chinese websites, including the TRX payment gateway, to collect money and continue their illegal activities.
Sai Ram, identified as the mastermind behind the operation, had a close associate, Mohan, based in Taiwan. Together, they collaborated with Chinese nationals who provided unregistered SIM cards and mule bank accounts to launder funds. The illegal proceeds, amounting to crores of rupees, were funneled through these accounts and linked to the TRX system. This facilitated illicit transactions related to online betting, stock market frauds, and various task-based scams.
The bust of this illegal payment gateway is a significant victory for the Visakhapatnam police, who have now launched an investigation to trace the broader network of operatives involved in these fraudulent activities. Central agencies are working closely with local authorities to ensure that the culprits face legal action, and further arrests are expected as the investigation unfolds.
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