Major Investment Scam Uncovered in Noida
Two individuals from Meerut have been apprehended by Noida Cyber Police for their involvement in a sophisticated online investment fraud that cheated a woman of Rs 5.6 crore. The arrests took place on Friday following an intensive investigation into the elaborate cyber crime operation.
How the Elaborate Scam Operated
According to the complaint registered at the cyber crime police station on October 30, the victim was initially approached by an unknown person posing as a stock market expert through social media platforms. The fraudster strategically added the woman to a WhatsApp group dedicated to investment planning, where the scheme began to unfold.
Within this WhatsApp group, individuals pretending to be financial experts regularly shared market insights and investment advice. Group members, who were actually part of the criminal network, consistently reported substantial profits from their investments in various companies, IPOs, and stock market activities. This created a false sense of legitimacy and trust.
The Arrests and Investigation Details
Police identified the arrested individuals as Saheb Singh and Neeraj, both residents of Meerut. The breakthrough came when authorities traced the fraudulent transactions to their bank accounts. A specialized police team successfully arrested both suspects in Hapur.
DCP Cyber Shavya Goyal revealed that Singh had been providing bank accounts to cyber criminals for an extended period. Investigation uncovered that more than Rs 65 lakh of the cheated amount had been deposited into Singh's bank account alone. Shockingly, when police checked his account on the NCRP portal, they discovered 22 separate complaints registered against the same bank account across multiple states.
The Money Laundering Network
The modus operandi involved a well-organized chain of financial transactions. Singh would withdraw the fraudulent money from his account and transfer it to Neeraj, who received substantial commissions for his role in the operation. Neeraj also provided current bank accounts to another accomplice named Charanjeet, who remains at large.
Police have seized mobile phones from both arrested individuals and are conducting forensic examinations to trace the broader criminal network. However, investigators suspect that crucial data might have been deliberately deleted from the devices.
Background of the Accused
Authorities disclosed that both Singh and Neeraj are unemployed despite completing their education. After failing to secure legitimate employment, they allegedly turned to cyber crime as a source of income. Police investigations indicate that Singh had already earned lakhs of rupees through this illegal activity and had recruited several other young people from his neighborhood into the criminal racket.
The Noida Cyber Police continue their hunt for the third accomplice, Charanjeet, and are working to dismantle the entire network of cyber criminals responsible for this sophisticated investment fraud scheme.
