The Pune Cyber Police have arrested two men from Belagavi for their alleged involvement in a ₹1.95 crore online fraud targeting a construction company in Hadapsar.
The accused — Ajay Ramvilas Yadav (22), a hardware shop owner from Laxmi Nagar, Kakati, and Salman Gaus Moinuddin Ajnal (32), a resident of Jhatpat Colony, Angol — were arrested on Thursday evening.
According to Senior Inspector Swapnali Shinde of the Pune Cyber Police, the fraud was registered on January 19. The construction firm had placed orders for equipment and was required to transfer ₹1.95 crore to a supplier. However, the company received an email from an address nearly identical to that of the genuine supplier, but with altered bank account details.
Without verifying the account information with the supplier, the company transferred the amount to the fraudulent account.
During investigation, police traced the money trail to an Axis Bank account linked to Shri Kannaya Enterprises in Belagavi. The account belonged to Ajay Yadav, who runs a hardware business jointly with his father.
Police said Yadav had allegedly shared his bank account credentials with Ajnal, who works at a local garage, after being promised a commission on transactions. Based on digital and technical evidence, both were arrested. Three mobile phones, an Axis Bank passbook, and a debit card were seized.
The case has been registered under Sections 318(4), 319(2), 61(2), 3(5) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act.
Further investigation is underway to trace other handlers and members of the cyber fraud network.