Delhi woman loses over Rs 23 lakh in share market fraud; fraudster held

NewsDrum Desk
New Update

New Delhi, May 15 (PTI) A 29-year-old man was arrested for allegedly duping a woman of Rs 23.5 lakh on the pretext of helping her get good returns from investment in share market through a website, police said on Wednesday.


A total of 17 SIM cards, 11 debit cards, four passbooks, 15 cheque books, two stamps and one phone has been recovered from the accused, identified as Mohammad Daud, they added.

The police said they have been able to recover a portion of the cheated amount -- Rs 8.55 lakh -- from his bank account, while the remaining money was transferred by him to different accounts.

On April 10, a 32-year-old woman lodged a complaint at the Northeast cyber police station alleging she was duped of Rs 23.5 lakh, they said.


She told the police that she got lured after coming across a website on social media that promised high profits by trading in stock market, Deputy Commissioner of Police (Northeast) Joy Tirkey said.

On contacting the number on the website, the accused influenced her to invest in the share market to earn huge returns and convinced her to start trading by investing Rs 1,000 in the beginning. She got a return of Rs 1,300 after her first trading, Tirkey said.

The officer further said that the accused later made the woman invest a huge amount but did not respond to her calls, he added.


Based on the victim's complaint, an FIR was registered and a probe was launched.

"A team was formed and a detailed investigation was launched. The money trail was checked and it was found that the amount was deposited in 11 different bank accounts," the DCP said.

"The team traced the accused to the Maujpur area and a raid was conducted. He was arrested from a rented premises in Maujpur in Delhi," the officer said.

Daud used to dupe people with the help of an associate who will be arrested soon, he added. PTI BM RPA