In a significant breakthrough against cyber fraud, the Mohali cyber crime police on Wednesday arrested three Gujarat-based fraudsters, accused of duping multiple victims of lakhs across the tricity.

Traced to Mehsana, Gujarat, the accused had been running an organised cyber crime network for the past three years, said police.

Police recovered ₹21 lakh in cash, a Maruti Swift Dzire car, a scooter, a cash counting machine and five mobile phones during the operation.

The accused were identified as Piyush Kumar Patel, Neerajbhai H Patel and Gohil Nikul Kumar, all natives of Mehsana, Gujarat.

The trio was arrested following the complaint of Gagandeep of Mohali, who reported loss of ₹15 lakh after investing in the share market through a fraudulent mobile application “Fx road”.

Holding a press conference at his office on Thursday, Mohali senior superintendent of police (SSP) Deepak Pareek and DSP Jatinder Chauhan said when the victim tried to withdraw his money, the app demanded additional funds.

“Upon expressing his inability to invest further, he was directed to provide ₹5 lakh in cash. The fraudsters then provided him the contact details of a local person who would be collecting the cash, leading to further investigation. Such fraudsters lure people by showing them growth in their profit, but eventually they are unable to encash the money,” the SSP said.

The police official added that the mobile phones recovered from the accused will be sent to the forensic lab to gather crucial evidence and to check if they were also involved in any Hawala trade.

The accused, according to the police, were defrauding and transferring approximately ₹70-80 lakh in cash daily from across the tricity area. “Their roles in the cyber fraud racket is being further investigated. Efforts are ongoing to trace and apprehend the main conspirators behind these fraudulent investment applications. Residents should remain vigilant against such scams and double check before investing,” the SSP added.