n a major breakthrough, cybercrime investigators arrested three individuals allegedly involved in an elaborate pan-India stock trading scam that duped victims of over Rs2 crore.
The scam typically began by luring unsuspecting users into WhatsApp groups filled with fake testimonials and screenshots of huge returns. Initial small payouts were made to build trust, after which victims invested larger sums—only to be defrauded.
In the first case, a victim invested over Rs1.6 crore after clicking a link on Facebook that redirected to a fraudulent stock trading app. The accused, Sahazada Hossain, 32, from Kamat Changrabandha, Cooch Behar, West Bengal, was arrested on August 21, just 500 metres from the Bangladesh border by a special cybercrime team.
Sandeep Mittal, Additional Director General of Police, Cyber Crime, confirmed that Hossain was a layer 1 mule account holder. He was linked to 29 cyber fraud cases across India, as per data from the National Cyber Crime Reporting Portal (NCRP).
In a second case, a Tamil Nadu resident lost Rs50 lakh after being enticed via WhatsApp to invest in another fraudulent trading app. Two more accused were arrested:
Amit Saha, 24, of Habra, North 24 Parganas, West Bengal, the primary suspect, is also a layer 1 mule account operator and is linked to 35 NCRP cases.
Kamalesh Debnath, 36, from Banipur, acted as a mule agent and allegedly sold bank accounts for commissions.
All three accused are currently in custody, and investigations are ongoing based on new leads obtained during interrogation.
