In a major development in a cyber fraud case, Faridabad Police on Friday arrested two suspects from Madhya Pradesh in connection with a Rs49.48 lakh scam involving fake stock market investments. The arrests were announced on Sunday.
The arrested accused have been identified as:
Sukhdev Kumar (25), a cab driver from Gopalpura in Morena
Siddharth Singh (27), a school principal from Bhind
According to the police, a resident of IP Colony, Faridabad, was targeted in December 2024 through a WhatsApp call promoting fraudulent stock market investments. Believing the scam, the victim transferred Rs49.48 lakh to multiple bank accounts thinking they were investment platforms.
However, after failing to withdraw supposed profits, the victim realised he had been duped and lodged a complaint at Cyber (Central) Police Station on December 10, 2024.
During investigation, police found that Rs10.1 lakh had been credited into Siddharth Singh’s bank account, which was being used as a mule account to reroute funds. Sukhdev Kumar reportedly obtained access to this account and passed it on to other fraudsters for commission.
Yashpal Yadav, Faridabad Police PRO, confirmed that both accused were earning commissions from funds credited to mule accounts, which were used to dupe victims across India. Authorities are now tracing the broader network and individuals linked to these fraudulent transactions.
