Indore Police arrested three individuals on Wednesday for stealing data from a forex and comex technical signal provider and using it to divert prospective investors to a fraudulent company they had formed.
The case was reported by Ravi Agrawal, a resident of Indore, who filed a complaint against Rahim Khan from Indore, Bharat Shekhawat from Rajasthan, and Rohit Sharma from Mumbai. Agrawal accused the three employees of stealing sensitive data from his company and misusing it to deceive his clients into investing in a new firm they had set up.
The fraudulent scheme caused financial losses to Agrawal’s company, as the three individuals allegedly used proprietary technical data from Agrawal’s firm to mislead its clients into engaging with their new venture.
Following the complaint, the Indore Police registered a case under sections 43, 66, and 72 of the IT Act, as well as 120B of the Indian Penal Code (IPC) for criminal conspiracy. The Crime Branch police station initiated an investigation into the matter.
The three accused are currently in custody as the police continue to probe the case further. Authorities are working to trace the full extent of the fraudulent activities and identify other potential victims.
