Mumbai Cyber Crime: Computer Engineer Arrested For Alleged ₹4.58 Crore Demat Account Fraud Using SIM Swap
Mumbai, November 4, 2026: The South Region Cyber Police have arrested a woman, identified as Pushpa Bind, for allegedly hacking an investor’s Demat account and fraudulently selling shares worth Rs 4.58 crore before using the proceeds to purchase penny stocks valued at just Rs 1.71 crore. The accused, a computer engineer, was working as an assistant at a company associated with the stock market.…
On November 4, 2026, the South Region Cyber Police apprehended Pushpa Bind, a computer engineer, for her alleged involvement in a fraudulent scheme where she allegedly sold shares worth ₹4.58 crore from an investor's Demat account and subsequently purchased lesser-value penny stocks. The alleged fraud occurred on August 10 between 11 am and 3 pm, when an unknown individual utilized the victim's Demat account credentials to sell shares without the investor's consent and purchase cheaper shares in their place.
The fraud was brought to light following a complaint and the swift action of the police, who were able to freeze shares worth ₹2.86 crore. The police discovered that Bind had managed to obtain unauthorized access to the victim's Demat account through SIM swap. The accused had fraudulently procured a SIM card linked to the email account required to receive OTPs, enabling her to gain access to the victim's Demat account.
Bind was arrested on November 3, and it was revealed that she had been involved in four other cases registered in 2025.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
