Three Arrested in ₹2.50 Crore Fake Stock Market Scam Case in Kaithal

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Three individuals have been arrested in connection with a ₹2.50 crore fraud scheme involving a deceptive stock market investment platform in Kaithal.

Arrests in ₹2.50 Crore Stock Market Fraud

Three individuals have been taken into custody in connection with a ₹2.50 crore fraud scheme involving a deceptive stock market investment platform in Kaithal. The operation targeted a retired employee from the Education Department, who was manipulated through a series of digital tactics including misleading advertisements, a fraudulent investment group, and a counterfeit trading interface mimicking SBI Securities.

Details of the Fraud Scheme

Haryana Police confirmed the arrests following an investigation into the scam, which involved multiple stages of deception. The victim initially encountered a promotional link advertising stock market opportunities. Upon clicking, he was directed to a group where individuals posing as financial advisors promised rapid returns. To enhance credibility, the perpetrators established a virtual wallet on a fabricated website resembling SBI Securities and conducted a video-based Know Your Customer (KYC) process.

Victim’s Experience and Deception Tactics

On September 1, 2025, the victim deposited ₹50,000, receiving a small return of ₹1,000 to foster trust. Subsequently, the fraudsters displayed fabricated profit statements on the fake platform, encouraging further investments. The victim transferred progressively larger sums into various bank accounts in installments. When attempting to withdraw funds, he was pressured to pay additional fees, including commissions and processing charges, under the pretense of legitimate operational costs. The perpetrators also provided forged documents purportedly from SBI Securities to substantiate their claims.

Investigation and Accused Details

Following a bank verification, the victim recognized the deception and reported the incident. Police confirmed that ₹2,50,51,597 was illicitly transferred through multiple banking transactions. The accused, identified as Sanjay Kumar and Satrohan Kumar from Mirpur Koniya village in Bahraich district, Uttar Pradesh, along with Dalip from Ambapur village in the same district, were apprehended. Investigations revealed that Sanjay Kumar and Satrohan Kumar’s bank accounts were used to receive the stolen funds, while Dalip was implicated in facilitating access to additional accounts for the syndicate.

Ongoing Law Enforcement Efforts

Dalip is currently in police custody, with the other two suspects remanded to judicial detention. Law enforcement continues to trace the financial trail, analyze digital evidence, and identify potential accomplices within the network.

Haryana Police confirmed the arrests following an investigation into the scam, which involved multiple stages of deception.