The Uttar Pradesh Police Cybercrime Unit arrestsshare market trading scam that led to a victim losing Rs48.5 lakh. The accused, Rishabh Mishra and Dheeraj Porwal were apprehended near an under-construction flyover in Noida Sector- 4
According to the police, the victim filed a complaint on April 16, reporting the loss of Rs 48.5 lakh after being deceived in a share trading scam. An FIR was subsequently registered, with charges including cheating, forgery, and criminal conspiracy.
The cybercrime unit tracked down the suspects and made the arrests on June 19. Rishabh Mishra, a private bank employee, was accused of opening bank accounts for fake firms, while Dheeraj Porwal , who pretended
The modus operandi involved the creation of a fake trading platform where fraudulent funds were transferred into accounts opened under fictitious company names. Porwal even rented a shop in New Ashok Nagar, Delhi, using the name “Porwal Traders” and created bogus firm documents, including banners and stamps, to open bank accounts. These accounts were used to launder money from the scam.
Authorities have seized a mobile phone used in the scam and frozen Rs3.25 lakh across various bank accounts linked to the fraudulent activities. The investigation continues as police work to uncover the full extent of the fraud.
