Stock market scam costs Shalimar Bagh resident Rs 17 lakh; 3 held

New Delhi: Three people were arrested and a woman was bound down for allegedly cheating a west Delhi resident of Rs 17.1 lakh on the pretext of high returns on stock market investments.According to police, the 43-year-old complainant, a grocery shop owner from Shalimar Bagh, came in contact with the accused through a social media investment group. They got him to transfer the amount into multiple bank accounts.
When he tried to withdraw the money, he was asked to deposit additional funds. This raised suspicion. A case was registered at cyber police station on Jan 18. Additional commissioner of police (North West) Bhisham Singh said, "Financial analysis revealed that the cheated amount was routed through a mule bank account registered in the name of a firm operated by one Inderjeet." During interrogation, Inderjeet (38) admitted providing his firm's bank account to the syndicate for a commission. Pawan Kumar (38) was found to be acting as a mediator, while Gaurav Tyagi (25) coordinated the operations. Mahima Sharma, a joint account holder with Inderjeet, was bound down during the investigation. Three mobile phones used in the fraud were also seized.The accused revealed that the group lured people through social media investment groups and fake trading platforms, routed funds into mule accounts, and liquidated them through gaming apps and digital platforms to hide the trail. Get the latest lifestyle updates on Times of India, along with Holi wishes, messages and quotes !