A 38-year-old cyber fraudster, Dinesh Chawla, was arrested on Tuesday after he allegedly duped a Malad-based entrepreneur of Rs53 lakh by luring her with promises of high returns in the stock market. Chawla is reportedly a part of a cyber fraud syndicate and had opened several bank accounts to receive the illegally obtained money, earning a commission for his role in the scam.
The complainant, a 45-year-old software development business owner, said in her complaint that she primarily uses the internet for business transactions. In March, Chawla reached out to her, claiming to know one of her friends. He gained her trust over time and convinced her to invest in a trading company that promised substantial returns.
Soon after, she was added to a WhatsApp group, where other members praised the company for its profits. After observing for a few days, the complainant decided to invest and was asked to upload her bank account details and documents to open a virtual trading account. Following the instructions, she transferred ₹60 lakh to various accounts provided by Chawla.
Initially, she was able to withdraw Rs6.25 lakh as part of her “profits,” but when her account balance increased to Rs90 lakh, she was told that in order to withdraw her funds, she needed to invest Rs44 lakh more or pay 15% tax on her profits. When the complainant grew suspicious and attempted to contact the scammers, they started giving excuses and avoiding her calls.
After conducting an online search, she discovered that the trading company was fake and filed a complaint with the North Cyber Police Station in early April. The investigation led to Chawla’s arrest, and he is now facing charges related to the fraud.
