Ghaziabad: Three arrested for cheating Rs 70 lakh in online share trading scam


Ghaziabad police on Wednesday arrested three persons who allegedly cheated a resident of Rajnagar Extension. 7 million in an online share trading scam, senior police officers said, adding that they have learned that the gang is also involved in around 32 fraud cases registered in different cities across the country.

All three accused are in police custody. Officials said the suspects would get 1 percent of the money collected by defrauding people. The police have almost recovered. Singh lost Rs 29.57 lakh. (Saqib Ali/HT Photo)

Police identified the suspects as Ravi Sharma, 40, Sushil Sharma, 38, and Bhanu Raghu, 38, and said they were arrested from Mussoorie in Ghaziabad on Tuesday night.

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Police said the victim, Kushal Pal Singh, was allegedly duped. 70 lakhs between March 13 and April 3 this year. Singh contacted the police on April 23 and lodged an FIR at the Nandgram police station.

“The matter was investigated by Cyber ​​Cell. We traced various linked accounts into which Singh's money was transferred, and we found one account in which 50,000 transferred. We scanned the details of this account and found that about 6.5 crore we believe came from 32 different fraud cases reported from 10 different states. We are getting the details of all these cases,” said Sachidananda, Additional Deputy Commissioner of Police (Crime).

Police said that while Singh was surfing online for investment schemes in share trading, he came across gang members who added him to two different WhatsApp groups through links.

“Then, they also forced him to invest regularly through two different apps and his money was transferred to 10 different accounts. The app would show that the investment was growing, but, he could not withdraw the money. In this way, 70 lakh rupees were taken from Singh. The gang also opened current accounts in the name of bogus companies and the details of these accounts were shared with a fraudster abroad. That person will access these accounts through the OTP forwarder app,” said Satchidananda.

Officials said the suspects would get 1 percent of the money collected by defrauding people. He is almost recovered. Singh lost Rs 29.57 lakh.

Police say that there are many more members of the gang and investigation is on to arrest more accused.

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