UTTAR Pradesh residents were arrested by a unit for computer crime in Hyderabad in connection with fraud for trading in stocks, where a 35 -year -old private employee from the city was cheated at 14.6 GBP Lakh.
The defendant, identified as Shiva Shankar, 27 years, data commissioning and resident Gautama Buddha Nagar in Noida, was arrested for his role in a fraudulent scheme that cheated on investors with a promise of high yields. The police said it was involved in two cases throughout India, including one in Telangana.
The victim was lured into an online investment scheme through a WhatsApp message from an unknown number. The fraudsters under the pretext of the offer of institutional shares, OTC shares and shares from the Samco group have provided quick and substantial profits.
The victim was ordered to join the WhatsApp Group, where he was encouraged to invest in mass shares and an IPO with a false certainty of 20% of the return on investment. When he tried to withdraw his apparent earnings, he was informed that his resources were still locked in IPO. Despite his insistence on the refund, he was asked to deposit additional amounts. When he refused, all communication was suddenly interrupted and was blocked in contact with them.
Shiva Shankar was identified as a key player in the operation, acting as a holder of an account and a supplier of financial channels for fraudulent transactions. The investigation revealed that it was involved in a similar case in Tamil Nadu.
Police confiscated two mobile phones, four check books and two debit cards from the accused. Another investigation is underway.
Published – 1 April 2025 17:12
