The Sonipat police on Tuesday claimed to have dismantled an inter-state cybercrime syndicate that allegedly defrauded a man of Rs 18.59 lakh by enticing him with promises of complimentary stock market training and substantial returns through counterfeit trading platforms.
Authorities arrested two suspects from Neemuch, Madhya Pradesh, in connection with the case, as confirmed by police officials.
The operation was conducted under the supervision of Sonipat Police Commissioner Mamta Singh and Deputy Commissioner of Police (West and Cyber) Kushal Pal Singh.
According to the police, the perpetrators employed WhatsApp messages, fake investment applications, and forged trading accounts to lure victims into transferring significant sums of money under the pretense of stock market investments.
Investigators revealed that the complainant, Niladri Shekhar, a resident of Kundli in Sonipat, lodged a complaint with the cyber police on April 6, alleging that he had been deceived through an elaborate online investment scam.
The victim informed the authorities that he initially received a WhatsApp message in January of this year, offering free share market and trading lessons along with assurances of daily profits ranging from 15% to 20%.
Subsequently, a woman contacted him and persuaded him to download an application and open what was presented as a High Net Worth (HNW) trading account linked to a reputable securities platform. The police stated that the fraudsters gradually gained the victim's trust by displaying fictitious profits and offering lucrative IPO deals and so-called institutional stocks with promises of multi-fold returns. Ultimately, the complainant transferred Rs 18.59 lakh into multiple accounts controlled by the accused.
Further investigations uncovered that the entire operation was orchestrated using forged documents, fake websites, and fabricated trading interfaces designed to appear legitimate.
A team led by Inspector Basant Kumar from the cyber police station in Sonipat traced the digital and banking trail before conducting raids in Neemuch, Madhya Pradesh, resulting in the arrest of Vivek, son of Kaushal, and Dheeraj, son of Omprakash.
The police reported that they successfully froze or placed a lien on Rs 8.81 lakh of the defrauded amount. Additionally, two mobile phones and Rs 3,300 in cash were recovered from the accused.
Following the conclusion of police remand, the accused were presented before a court, which remanded them to judicial custody. Investigators are now probing whether the syndicate targeted victims in other states through similar investment scams.
The police urged citizens to remain vigilant against unsolicited investment offers on WhatsApp and social media platforms, particularly schemes promising unusually high returns within a short period.
