Know How A Retired IAF Officer Got Back His ₹1.3 Crores He Lost in Stock Trading Cyber Fraud

Know How A Retired IAF Officer Got Back His ₹1.3 Crores

Know How A Retired IAF Officer Got Back His ₹1.3 Crores He Lost in Stock Trading Cyber Fraud

Read more about how everyone, from bank employees to rickshaw pullers, was involved in a Fake Stock Trading Cyber Fraud.

New Delhi:  By carrying out a complex operation, Delhi Police has recovered ₹1.3 crore from cyber thugs of an 82-year-old retired Air Force officer of Gurugram.  From bank employees to laborers and rickshaw pullers were involved in this cyber fraud.  Last February, a retired officer was duped by cyber thugs on the pretext of high returns in the stock market.  Police have arrested seven people including two sales officers of Yes Bank from Rohini, Delhi in this case.

They allegedly helped Suraj, one of the coordinators, access the bank account of the victim.  Suraj, who had been arrested before also in some criminal cases, is basically an unemployed person from Faridabad.  Now, he works for some cybercriminals in Dubai, who have not been identified yet.

A Huge Commission in Exchange of Bank Accounts of Heavy Money Holders

Other people who got arrested by the police in the case are those who allowed bank employees to use their accounts for transactions by cyber criminals.  In return, they also took good amounts as a commission.

In February, retired IAF officer Jai Prakash Tank, living in DLF-2, approached the Cyber Crime (East) Police Station and lodged a complaint that he had been defrauded with ₹1.3 Crore by a gang of cyber fraudsters.

Luring Customers For High Returns in Trading

It offered them high returns for stock trading.  Tank said that he was added to a Telegram group on which other users used to make positive comments for investment.  The 84-year-old man received high initial returns and was persuaded to continue investing.  By the time he discovered the fraud, he had lost his hard-earned money.  After that, the gang members stopped talking to him anymore after defrauding him.

The Amount was Transferred to the Laborer’s Account

An FIR was registered against the accused under IPC Sections 420 (cheating) and 120-B (Criminal Conspiracy).  During the initial investigation, police found an account of IndusInd Bank in Rohini, which was of Prakash, a laborer living in Bawana, Delhi.  Consequently, Prakash’s IndusInd bank account was frozen and the ₹10 lakh transferred into it was withdrawn back to its original owner.

Prakash had received ₹25,000 from Dharmendra and Deepak.

Prakash was arrested on March 9 and he told the police that he had taken ₹25,000 from two Yes Bank employees Dharmendra and Deepak.  Both of them convinced him to give his account information to them for the usage of fraudulent purposes.  Certainly, he would be getting a nicer commission for that.

Both were later arrested on March 12. ACP (Cyber Crime) Priyanshu Diwan said on Wednesday, “The two bank officials had received ₹1.6 lakh for giving access to the bank accounts to the fraudsters.  He gave some of this amount to Prakash.”

₹42 Lakhs Recovered from Pinky’s Bank Account

Similarly, due to transactions in other bank accounts by cyber thugs, the police had to arrest Pinky, her husband Vikas, and their friend Pooja. ACP said, “₹42 lakhs was recovered from Pinky’s bank account. Pinky is a resident of Sultanpuri, Delhi.

She was arrested and confessed the involvement of her rickshaw puller husband Vikas and widow Pooja, who lives in Jain Nagar in the same network of cyber thugs.”

Money was sent to bank accounts of Madhya Pradesh, Maharashtra and Gujarat

All three were in contact with Deepak of Yes Bank.  After this, Suraj was caught.  The remaining ₹80 lakhs was recovered from the Anand Vihar branch of IDFC Bank, IndusInd Bank accounts in Madhya Pradesh and Nashik (Maharashtra), and AU Small Finance Bank account in Surat, Gujarat.  Police are investigating the role of other bank account holders.

DCP (Cyber Crime) Siddhant Jain said, “Our team managed to coordinate with the banks and the entire lost amount was returned to the complainant through the court.

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space.  Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM.  Naager entered the field of content in an unusual way.  He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts.  He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field.  In the bottom line, he frequently writes for Craw Security


A Python Backdoor is Employed in a Zero-Day Attack on Palo Alto Networks.

A Retired Teacher Got Defrauded by ₹3.55 Lakhs Cyber Fraud in Varanasi

boAt Suffers Massive Data Breach, Exposed 7.5 Million Users Private Details on The Dark Web

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Open chat
Can we help you?