In a significant bust, the Cyber Central Police Station in Faridabad arrested two men from Delhi in connection with a share market fraud case involving nearly Rs 94 lakh. The accused were presented in court on Tuesday and remanded to judicial custody.
The arrested individuals are Ankit, originally from Gori Gama village in Bihar but residing near Pacific Mall, Rajouri Garden, and Amit Kumar, a resident of Raghubeer Nagar, West Delhi. Ankit works as an e-rickshaw driver while Amit is employed at a footwear shop.
According to police, the scam began when a Faridabad resident was added to a WhatsApp group on July 1 last year, where the fraudsters shared fake ‘investment tips.’ The victim was persuaded to open a demat account with “DAIWA SECURITIES AI Smart Demat” for pre-market trading and US market investments.
Initially, the victim invested Rs 10,000 and was able to withdraw Rs 1,000, gaining confidence in the scheme. Encouraged by this, he eventually invested Rs 93.51 lakh. Soon after, all communication with the scammers stopped, prompting the victim to file a complaint.
Police investigations uncovered that Ankit provided his bank account for the scam, which Amit passed on to other conspirators. Around Rs 8 lakh of the defrauded money was traced to Ankit’s account.
This case follows a recent Faridabad police crackdown in April, where 11 women and a man were arrested for running a fake call center that defrauded victims of Rs 35 lakh by posing as credit card service providers.
Authorities are continuing their probe to identify other members involved in this share market scam.
