In a major crackdown on financial fraud, Sher Bahadur Karki, Milan Thapa, and three others—including Nepalese nationals Yanjay Ray and Manish, along with Patiala resident Virendra Pal Singh—were arrested for cheating victims via fake trading apps and WhatsApp groups.
The accused lured victims with promises of high returns in stock market and IPO investments. Investigators revealed that around Rs2 lakh of the defrauded funds was routed through a bank account fraudulently opened in the name of Tara Logistics Private Limited. The account was sold multiple times among the accused for small commissions, concealing the money trail.
Police seized seven mobile phones, 20 ATM cards, 18 cheque books, and four bank passbooks during the operation. The arrests were made following a complaint filed on November 1, and the case is being investigated as investment fraud, cybercrime, and money laundering.
Authorities emphasized that such scams exploit digital platforms and social media to target unsuspecting investors, highlighting the need for public vigilance.
