The Surat City Cyber Crime Branch arrested three Mumbai men—Rahul Rajak, 27; Ashish Sonar, 37; and Bhushan Sendane, 34—in connection with an alleged Rs 1.10 crore share‑market investment fraud.
Police say Rajak created a firm, secured an Udyam certificate and opened an IDFC Bank current account, which he sold to Sonar for Rs 10,000; Sonar passed it to Sendane for Rs 30,000, who then transferred it for Rs 20,000. Between Oct 18 2025 and Jan 9 2026 the account handled transactions worth Rs 2.41 million, while 29 complaints from multiple states linked it to a total fraud of about Rs 16.13 crore. The trio earned Rs 60,000 in commission. The scam used a fake Axis Bank app, a demat account and a victim’s transfer of Rs 1.10 million, of which only Rs 5,000 was returned.
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