Seven fraudsters nabbed in Rs 85L stock market scam

Gurgaon: Seven people were arrested from Rajasthan on March 26 for committing a Rs 85 lakh investment fraud in Feb. The accused allegedly cheated a woman on the pretext of handsome returns on her investment in the stock market. Similarly, the Hyderabad cybercrime team arrested a 28-year-old man on March 25 for his involvement in investment fraud cases.
On Feb 27, cyber east police received a complaint from a resident of Gurgaon, alleging she was cheated by unknown offenders of Rs 85 lakh on the pretext of good returns on stock market investment. "The accused made me transfer money to different bank accounts. On the virtual account provided by them, consistent profits were displayed on my investments. When I tried to withdraw money, they blocked my account and discontinued communication with me," the victim alleged.
Based on her complaint, a case was registered under sections 318 (4) (cheating and dishonestly inducing delivery of property) of BNS against unknown offenders.
While investigating the case, police identified six bank accounts where Rs 64 lakh of the defrauded amount had landed. The bank account holders, Anshul Yadav, Jitendra Jaiswal, Harshit Yadav, Yashwant, Ankur Sharma and Manoj Saini--all residents of Rajasthan's Alwar district--were arrested on March 26.
"During the interrogation, the accused said they sold their bank accounts to Shailendra alias Senti, a resident of Sanjay Nagar in Alwar, for Rs 20,000 each," ACP cybercrime Priyanshu Diwan said.
Police arrested Shailendra from Alwar the same day. All the accused were produced before the court and sent in judicial remand on March 27.
"Out of the defrauded amount, Rs 20 lakh has been frozen in various bank accounts. Further investigation is underway to identify other accused and recover the defrauded amount. The case is under investigation," the ACP said.
Meanwhile, Hyderabad cybercrime police arrested 28-year-old Himanshu Swami from Shyam Apartment in Nakhrola, Gurgaon, on March 25, for supplying bank accounts to cyber crooks operating an investment fraud racket. While investigating a Rs 20 lakh investment fraud case registered under section 318 (4) of BNS in March 2024, the police zeroed in on Himanshu on March 25. "The complainant is a 49-year-old civil engineer from Hyderabad. Himanshu, a native of Rajasthan, supplies bank accounts to cyber fraudsters, and we found his involvement in 43 cyber fraud cases registered across India," cybercrime inspector K Satish Reddy said. The accused was produced before a local court in Hyderabad and sent in judicial remand.