Online trading fraud: Haryana Police arrests 4 for cheating people of crores of rupees

Hisar (Haryana), Jul 9 (PTI) Police in Fatehabad Wednesday claimed to have busted a gang that allegedly cheated people of crores of rupees across several states on the pretext of providing them high returns through online trading.

Police said they have arrested four accused associated with this gang and recovered a large amount of material from their possession, which was being used in various cyber fraud activities.

The arrested accused were identified as Sahil, Manav, Balkishan and Yash, all residents of Delhi, Fatehabad police spokesperson Vinod Kumar said in a statement.

Police produced them in a court on Wednesday from where Sahil and Balkishan were sent to judicial custody while Manav and Yash were sent to three-day police remand.

Police have recovered 168 ATM cards, 68 SIM cards, 50 cheque books, 46 passbooks, 15 mobile phones, one laptop, 13 stamps and two bill books from the possession of the accused, the spokesperson said.

It is alleged that all these materials were being used to operate fake accounts and transactions.

Preliminary investigation has revealed that the gang has defrauded hundreds of people of crores of rupees in many states of the country including Haryana, Gujarat, Karnataka, Maharashtra, Uttar Pradesh and Chhattisgarh.

The spokesperson said that the accused were identified on the basis of technical evidence, bank transaction details and mobile location, and they were arrested from Delhi.

The investigations have revealed that the accused used to cheat people by trapping them through social media, mobile apps and websites.

The investigation of the bank account of accused Balkishan revealed that an amount of Rs 40 lakh was transferred to his account in just three days.

Detailed investigation of the accounts of other accused is also going on so that other people involved in their network can be identified, the spokesperson said.

This action was taken by Cyber police station in-charge Inspector Rahul Kumar and his team, he said.

This arrest was made during the investigation of an online fraud case.

According to police, the complainant in the case is a teacher, who was contacted through WhatsApp and lured to earn more profit by investing in a fake online trading platform.

Falling into the trap, he transferred the amount in two instalments digitally, but he neither got any benefit nor his money was returned, police said. PTI COR SUN KVK KVK