- LATEST
- WEBSTORY
- TRENDING
MUMBAI
Mumbai jeweller held in EDC machine chargeback fraud
Updated : Aug 18, 2014, 04:30 AM IST
)
TRENDING NOW
)
Shilpa Shetty breaks down, Salman Khan cancels shoot; celebs rush to Lilavati hospital after Baba Siddique shot dead
)
Amid divorce rumours of Aishwarya, Abhishek Bachchan, video of Jaya announcing his engagement with Karisma goes viral
)
Bigg Boss 18: Rajat Dalal, Vivian Dsena, Avinash Mishra, Chahat Pandey, top 5 most popular contestants this week
)
Aishwarya Rai's biggest flop was rejected by Priyanka Chopra, ruined director's career, didn't earn even Rs 10 crore
)
Bigg Boss 18: Shilpa Shirodkar is in awe of Avinash Mishra, comments on muscular body, says 'when he removes his...'
)
'Fake drama': Sania Mirza, Shoaib Malik celebrate their son Izhaan's birthday in Dubai; netizens troll Pak cricketer due
)
Amid Aishwarya Rai, Abhishek Bachchan's divorce rumours, Amitabh Bachchan quietly visits Mumbai temples for his son's..
)
Aishwarya Rai fans express anger after Abhishek Bachchan, Amitabh Bachchan skip her birthday post: 'She needs to...'
)
Anushka Sharma shares FIRST photo of Akaay, Vamika to celebrate Virat Kohli's birthday
)
Amid divorce rumours of Abhishek Bachchan and Aishwarya Rai, Aaradhya praises mother in viral video
)
Meet IAS officer who cracked UPSC exam twice without coaching, became youngest IPS at 21, is Vikas Divyakirti's...
)
Pakistani TikTok star Minahil Malik reacts after leaked video with boyfriend goes viral, says, 'I'm done...'
)
Rinku Singh buys luxurious bungalow after being retained by KKR for Rs 13 crore, SEE pics
)
Gandii Baat, XXX show actress Aabha Paul looks stunning in sultry photos, sexy videos
)
Meet Rasha Thadani, Raveena Tandon's 19-year-old glamorous daughter, set to make her debut opposite Ajay Devgn's...
The Economic Offences Wing (EOW) of the city police on Sunday arrested a Mira Road based jeweller for allegedly duping a private bank by undertaking dubious transactions through the Electronic Data Capture (EDC) machine given by the bank.
The EOW claims that six different business establishments, including the store of the arrested accused have allegedly duped the bank to the tune of Rs 1.77 crore.
The arrested person has been identified as Prashant Pingle, owner of Sai Siddhi jewellers. Pingle resides in Chandresh Arcade building in Mira Road.
According to the EOW sources, complainant is an assistant manager of the bank. His work profile includes giving approval to the new business clients of the bank, stopping payment of dubious transactions, informing superiors about it and taking actions on dubious businessmen clients.
"Pingle too was provided EDC machine by the bank for his business transactions. It had come to light that, between 24 April 2008 and 24 September 2008, several businessmen had misused the EDC machines to carry out dubious transactions worth Rs 1.77 crore," said an EOW officer, requesting anonymity.
The bank then lodged a complaint in this regard with Samta Nagar police. The case was then transferred to the EOW for further investigation.
"Investigation revealed that Sai Siddhi had done five dubious transactions worth Rs 3.39 lakh using EDC machine of the bank. After having committed the offence, Pingle shut down his operations and went into hiding," the officer said.
"Investigations revealed that Pingle and other five business establishments had used stolen debit/credit card data of the customers for bogus transactions. Since the customer's whose card data were illegally used were from abroad and never did the transactions, they reported about it to their banks and the transactions were then charged back, which resulted in a loss of Rs 1.77 crore to the complainant's bank," the officer said.
"The accused seems to be part of a gang that steals credit/debit card data of foreign based customers and then uses them in different outlets in Mumbai to commit fraud," said another EOW officer.
