The Cyber Crime Cell of Goa Police arrested 23-year-old Rutik Nikam from Maharashtra on Thursday in connection with a stock market scam. Nikam allegedly swindled an Old Goa resident of Rs 38 lakh by luring him into investing in the stock market with promises of high returns.
According to SP of Cyber Crime, Rahul Gupta, the victim was induced to trade stocks through the “FYERS Trading App” and added to a WhatsApp group called “R1 Group.” He was manipulated into transferring the money into nine different bank accounts under false assurances of substantial profits.
Through a thorough investigation, it was revealed that Rs 2 lakh was deposited into Nikam’s bank account as part of the scam. The accused was subsequently arrested after tracing the financial trail, Gupta confirmed.
