Baghpat Police Arrests 3 in ₹4.63 Crore Online Share Market Scam
Three Arrested in ₹4.63 Crore Cybercrime Scheme
A recent crackdown by law enforcement in Baghpat has led to the arrest of three individuals accused of orchestrating an interstate cybercrime scheme that duped 39 investors out of approximately ₹4.63 crore.
Modus Operandi
According to investigators, the cybercriminals utilized social media platforms to lure victims into their trap. They created fake investment companies and used these platforms to promise unusually high profits, thereby building trust with potential investors. Once trust was established, victims were sent suspicious links and asked to invest in the fake schemes.
Investigation and Arrests
The investigation into the scam was triggered by a complaint filed by a trader from Baraut. During the probe, the cyber cell conducted a technical analysis of the bank accounts linked to the network and discovered suspicious transactions worth nearly ₹13.91 crore. However, the exact amount of fraudulent transactions is yet to be confirmed.
Interrogation of the accused revealed that Mohit, Anurag, and Vivek Kumar worked together to create fake companies and collect money from unsuspecting investors. Anurag reportedly admitted to opening several fraudulent investment firms, while Vivek Kumar was involved in establishing new fake business entities. Investigators suspect that there may be additional members of the network who have yet to be identified.
Seized Items and Investigation
A search of the arrested individuals resulted in the seizure of several items, including iPhones, mobile phones, SIM cards, banking cards, a motorcycle, a POS machine, printers, QR code sheets, Aadhaar cards, driving licenses, and stamps of fake companies. These devices were allegedly used for online financial fraud and illegal transaction activities.
Warning to the Public
The investigation has revealed that the gang targeted victims from multiple states, including Uttar Pradesh, Delhi, Gujarat, Telangana, Kerala, Karnataka, Maharashtra, Odisha, and Punjab. Cybercrime experts are advising people to exercise caution when investing in online schemes and to verify the authenticity of investment companies before making any transactions.
The police are continuing their investigation into the scam and are working to identify any additional members of the network. In the meantime, they are urging the public to remain vigilant and to report any suspicious online activity to the authorities.
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