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Indian Express

Faridabad police arrest 2 men from Delhi in Rs 93 lakh share market fraud case

The Cyber Central Police Station team in Faridabad Monday arrested two people from Delhi in connection with a share market fraud case involving Rs 93.51 lakh. The accused were produced before a court on Tuesday and sent to judicial custody. The arrested men were identified as Ankit, a resident of Gori Gama village of Vaishali district in Bihar who resides at TC Camp near Pacific Mall at Rajouri Garden in West Delhi, and Amit Kumar, a resident of Raghubeer Nagar in West Delhi. Ankit drives an e-rickshaw, while Amit works at a footwear shop. According to a police spokesperson, a resident of Ozone Park Apartment in Sector 86, Faridabad, had lodged a complaint alleging that on July 1 last year he was added to a WhatsApp group where fraudsters provided 'investment tips'. The complainant said they convinced him to open a demat account with 'DAIWA SECURITIES AI Smart Demat' for pre-market trading and investments in the US market. The person initially invested Rs 10,000 to test the account and withdrew Rs 1,000, gaining confidence in the scheme. Subsequently, he invested a total of Rs 93.51 lakh, the complaint said. However, communication with the fraudsters soon ceased, leading him to realise that he had been cheated. Acting on the complaint, the police team arrested the two men. Investigations revealed that Ankit, the account holder, provided his bank account to Amit, who further passed it on to others involved in the scam. Around Rs 8 lakh of the defrauded amount was traced to Ankit's account. In April, the Faridabad police had arrested 11 women and a man allegedly involved in a fake call centre operation that defrauded victims of at least Rs 35 lakh across multiple states by pretending to provide credit card services. The accused were caught from the call centre which had been operating from Janakpuri in West Delhi since March 2024. The case came to light following the registration of a complaint by a 29-year-old resident of Shyam Colony in Ballabhgarh near Faridabad on March 12.