Delhi Police arrested three men—Mohseen (37), Nayar Ali (39), and Kaif (22)—on Tuesday for allegedly duping a senior citizen of Rs 31 lakh through a fake stock market investment scheme, officials said on Wednesday.
The 62-year-old victim, employed at a construction company, was targeted via social media, where the accused introduced him to a fraudulent investment platform. He was added to a WhatsApp group offering fake stock tips and bogus investment advice.
According to police, the accused promised high returns through IPO funding and profit withdrawals, convincing the victim to transfer money via online methods into multiple personal bank accounts. When the victim tried to withdraw funds, the fraudsters threatened him and coerced him into sending additional amounts.
Investigation revealed Rs 5.44 lakh had been deposited into an account linked to Mohseen, who initially went underground after the scam surfaced. He was later tracked and arrested in Ghaziabad. His interrogation led to the arrest of associates Kaif and Nayar Ali from Delhi’s Rajouri Garden and Govindpuri, respectively.
Police also found the trio used mule accounts to circulate funds and earned commissions of 1 to 1.5 percent per day on transactions. Further investigations are ongoing to trace more bank accounts and individuals linked to the racket.
