Kolkata Police have arrested Hasan Molla from South 24 Parganas, West Bengal, in connection with a massive cyber fraud that allegedly duped a city resident of Rs 3.35 crore by promising high stock market returns.
The victim, 56-year-old Ashish Kumar Ghora of Entally, was drawn into a WhatsApp group posing as a legitimate investment advisory platform. The group promised exceptionally high returns within a short period, persuading Ghora to transfer large sums of money to multiple bank accounts as instructed by the administrators.
Investigators said the WhatsApp group contained several members and regularly shared stock market tips, creating the illusion of credibility. Trusting these assurances, the victim reportedly transferred around Rs 3.35 crore over time.
The fraud was uncovered when Ghora attempted to withdraw funds and realized he could not access his money. He then approached the Cyber Crime Branch of Kolkata Police to lodge a complaint.
Police investigations revealed that Molla allegedly used forged identities and fake logos of regulatory bodies like SEBI and the US SEC to make the scheme appear authentic. Fake documents were also circulated to gain the victim’s confidence. Preliminary checks show that Rs 22.5 lakh from the defrauded amount was transferred to an account under MS Masud Construction.
Hasan Molla was arrested from Bishnupur, South 24 Parganas, on Wednesday. Authorities believe he diverted funds obtained through fraudulent means, though the complete money trail is still being traced. Investigators are also exploring whether he operated alone or as part of a larger cyber fraud network, and further arrests have not been ruled out.
