The local police arrested Rohit (33) from Ganganagar, Rajasthan, on Friday in connection with a Rs4.35 crore investment fraud case. This marks the fourth arrest in the ongoing investigation. Rohit, who was already incarcerated in Jaipur on charges of cyber fraud, was brought to the local jurisdiction on a production warrant and was presented in court. He was remanded in police custody for two days.
The case, which was the first one to be registered at the local cyber crime police station, dates back to June 21 of last year. The FIR was filed after a complaint from Rashpal Singh, a resident of Model Town. Singh was added to a WhatsApp group where the accused, posing as an investment advisor, promised high returns and shared stock tips.
Initially, Singh received small returns, which encouraged him to invest more money. However, after making a significant investment, he could no longer reach the accused, as they vanished and stopped answering calls. The police have charged the accused with sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC). Investigations are ongoing.