The racket came to light after a job aspirant, Saurabh Rao, who had completed his graduation came in contact with Paramount Services which was involved in providing overseas employment services, Rabodi police station inspector D B Bhange said here.
According to the police complaint, Paramount offered Rao a job and further studies in Singapore for which they asked him to deposit Rs 2.5 lakh in a private bank in Hyderabad promptly.
After making an online payment in the specified account, Rao made several calls to company representatives.
Following this, an MBA graduate Arshad Ali, 28, from Hyderabad city was arrested recently. Also cash totaling Rs 40,000 was recovered from him, police said.
More From This Section
The Thane police team took assistance from their counterparts in Hyderabad and the bank staff in locating the cheat.
According to police, they are tracing three others who were also involved in the ongoing racket.
The police are also now trying to find out as to how many more job seekers this gang has cheated and what was the amount involved in the racket.