The Cyber Crime Police Station in Dehradun, part of the Uttarakhand Special Task Force (STF), successfully arrested a man involved in a major cyber fraud case amounting to Rs 84.7 lakh. The accused, identified as Durgesh, aged 29 and a resident of Kasganj, Uttar Pradesh, allegedly deceived a Dehradun resident through fake stock trading and IPO platforms.
The victim lodged a complaint in October 2024, claiming to have been enticed by online advertisements on social media platforms such as Instagram. After responding to these ads, the victim was added to a WhatsApp group where the fraudsters posed as representatives of well-known companies like NWIL Securities and Religare Enterprises Ltd, a listed NSE company.
Using manipulation and deceit, the accused convinced the victim to open a trading account on a fake platform and deposited funds, claiming they would earn high returns through profitable stock trading and IPO investments. Over time, the victim transferred Rs 84.7 lakh to the fraudulent accounts under the illusion of gaining substantial profits.
The fraudsters ran advertisements on social media platforms like Instagram and Facebook, promising high returns to attract potential investors. Once victims showed interest, they were directed to open accounts on fraudulent websites that closely resembled legitimate stock trading platforms. Victims were led to believe that their investments were generating significant profits, encouraging them to deposit even more money.
To conceal their actions and evade detection, the stolen funds were transferred across multiple bank accounts opened with fake IDs. The fraudsters also frequently changed their location to avoid capture.
Through a diligent digital investigation and the collection of technical evidence, the police were able to track the accused despite his efforts to stay hidden. The arrest of Durgesh was made possible after authorities seized his mobile phone, which contained vital evidence, including the SMS alert number linked to the fraudulent bank account used in the scam.
The arrest marks a significant breakthrough in tackling online investment scams and cyber fraud in the region, and the investigation continues to uncover more details about the network involved in the scam.