Delhi Police busts ₹47 lakh online stock fraud, two held
Delhi Police busts ₹47 lakh online stock fraud, two held
New Delhi, The Delhi Police has arrested two men for allegedly duping people of over ₹47 lakh in an online stock trading scam while working at the behest of a Chinese handler, an official said on Saturday.
The accused, identified as Sahil Yadav and Aryan , both residents of Patna in Bihar, were apprehended following a probe into an FIR registered in June after a complainant reported being coerced into transferring ₹47.23 lakh under fabricated threats, he said.
According to police, the victim was lured through a social media group that promoted stock trading schemes under the pretext of immediate buy, immediate sell and IPO rating traps.
"He was made to invest over two months through a fraudulent website. When he tried to withdraw the money, the fraudsters allegedly resorted to intimidation and extorted more money," said the police officer.
Probe revealed that ₹31.45 lakh of the cheated amount was deposited in a private bank account in the name of a furniture and interiors account, out of which ₹23.8 lakh was routed into another account belonging to another private firm, linked to the accused.
"The account was found to be a shell entity created to launder fraudulent transactions," said the office.
{{/usCountry}}"The account was found to be a shell entity created to launder fraudulent transactions," said the office.
{{/usCountry}}Police said the duo had opened seven bank accounts for laundering.
{{/usCountry}}Police said the duo had opened seven bank accounts for laundering.
{{/usCountry}}Investigators also unearthed 89 NCRP complaints linked to the firm. The accused were allegedly operating from an office in Noida and were receiving instructions through a handler based in Uttam Nagar, who in turn was working for a China-based mastermind identified as Tom.
{{/usCountry}}Investigators also unearthed 89 NCRP complaints linked to the firm. The accused were allegedly operating from an office in Noida and were receiving instructions through a handler based in Uttam Nagar, who in turn was working for a China-based mastermind identified as Tom.
{{/usCountry}}Aryan's movements were tracked to Greater Noida, where a Crime Branch team disguised as locals conducted a raid and arrested both accused. They had been using forged documents and fake SIM cards to conceal their identity, police said.
{{/usCountry}}Aryan's movements were tracked to Greater Noida, where a Crime Branch team disguised as locals conducted a raid and arrested both accused. They had been using forged documents and fake SIM cards to conceal their identity, police said.
{{/usCountry}}During interrogation, the two disclosed that they were recruited in December 2024 through social media with a promise of ₹30,000 commission for every ₹1 crore routed through their accounts. Further investigation is underway to trace the syndicate's international links, police added.
{{/usCountry}}During interrogation, the two disclosed that they were recruited in December 2024 through social media with a promise of ₹30,000 commission for every ₹1 crore routed through their accounts. Further investigation is underway to trace the syndicate's international links, police added.
{{/usCountry}}This article was generated from an automated news agency feed without modifications to text.
