Two held for Rs 36 lakh cyber scam

New Delhi, May 9 (PTI) Two alleged cyber fraudsters have been arrested for duping a Delhi-based man of Rs 36.48 lakh under the pretext of investing in IPOs and stocks, police said on Friday.

The accused, identified as Prashant Jangid (25) and Pradhyumn Singh Chauhan (26), are residents of Rajasthan's Jaipur and the two were nabbed after a detailed investigation, they said.

Samuel Thomas, a resident of Delhi's Palam village, approached the cyber police in November 2023 after being tricked through a fake online trading scheme, said a police officer.

Thomas told the police that he was added to a messenger group promoting a training program run by a man, who promised lucrative returns through stocks and IPO investments, he added.

The officer said that Thomas was then directed to download several trading applications.

Thomas was initially allowed to withdraw small amounts that built his trust, but when he tried to withdraw a larger sum then he found the money inaccessible, he added.

The officer further said that Thomas had already transferred Rs 36.48 lakh through multiple transactions by then.

Based on his complaint, a police team launched a detailed investigation, he added.

Following the money trail and analysing digital evidence, the police discovered that the duped money had been routed through mule accounts linked to shell companies.

A raid was first conducted at Kharar town in Punjab's Mohali, where Jangid was arrested on May 4, police said.

Chauhan was apprehended from Uttar Pradesh's Agra the next day, they said.

Three smartphones, two SIM cards and debit cards used in the operation have been recovered from the duo, who confessed to their crime during interrogation, police said. PTI BM AS AS