A social media chat turned costly for a Delhi resident, revealing a large-scale Rs 10.4 crore online stock investment scam operated from a hotel in Nepal. Two accused, Shashi Pratap Singh (28) and Nihal Pandey (27), were arrested in Gorakhpur, Uttar Pradesh.
The accused ran a fake trading platform fraud, luring victims through social media with promises of high returns. Victims were coaxed into opening trading accounts and investing large sums, only to have their accounts blocked when they tried to withdraw profits.
Police investigations showed that the accused laundered money through multiple bank accounts and SIM cards, operating across borders. Shashi and Nihal coordinated from Nepal, staying in a hotel and handing over banking credentials to others involved in the racket.
The scam came to light after victim Sachin Kumar Tomar reported losing Rs 8.15 lakh. Police traced Rs 5.75 lakh transferred to a bank account jointly held by Shashi and his father. Both men have been arrested and the investigation is ongoing.
