Police arrest Maha man in Rs 38 lakh stock market scam
Panaji: The cyber crime cell of Goa police arrested Rutik Nikam, 23, a resident of Maharashtra, on Thursday in connection with an alleged stock market scam. An Old Goa resident was cheated of Rs 38 lakh after he was lured into investing in the stock market with the promise of high returns.
“On the false promise of high returns, the victim was manipulated into transferring Rs 38 lakh into nine different bank accounts,” Gupta said.
“During the financial trail investigation, a layer one account holder, Nikam, in whose bank account Rs 2 lakh was deposited from the complainant under the pretext of high returns, was traced and he was arrested by the cyber crime cell,” Gupta said.
Further investigations revealed that this same bank account was linked to 22 other financial fraud complaints across India with a total reported amount of Rs 11.5 crore.
“More suspects are yet to be traced and arrested. The investigation is in progress with PI Deepak Pednekar. Goa police urge citizens to remain cautious while investing online and to report any suspicious activities to the cyber crime police station,” Gupta said.
“On the false promise of high returns, the victim was manipulated into transferring Rs 38 lakh into nine different bank accounts,” Gupta said.
“During the financial trail investigation, a layer one account holder, Nikam, in whose bank account Rs 2 lakh was deposited from the complainant under the pretext of high returns, was traced and he was arrested by the cyber crime cell,” Gupta said.
Further investigations revealed that this same bank account was linked to 22 other financial fraud complaints across India with a total reported amount of Rs 11.5 crore.
“More suspects are yet to be traced and arrested. The investigation is in progress with PI Deepak Pednekar. Goa police urge citizens to remain cautious while investing online and to report any suspicious activities to the cyber crime police station,” Gupta said.
Jaipur, March 6 (IANS) In a major crackdown on illegal gambling in Jaipur, police arrested 44 people involved in gambling activities.
Get the latest lifestyle updates on Times of India, along with Holi wishes, messages and quotes !Popular from City
- 7 urns with human hair and skulls: 'Rs 1,500 crore fraud' at Mumbai's Lilavati Hospital with a black magic twist
- 'Huge loss in business': Doctor, wife, and two sons found hanging at Chennai house
- British woman raped at south Delhi's Mahipalpur hotel by man she met on Instagram
- IISER scientist killed in brutal assault over parking row in Punjab's Mohali
- Man kills wife for refusing to cook mutton curry in Telangana
end of article
Trending Stories
05:39 'India imposes 150% tariff on American alcohol, 100% on agricultural products': White House- NASA astronauts Sunita Williams and Butch Wilmore return: Here’s how much Williams earns as an astronaut and her net worth
- Ranya Rao gold smuggling case: Karnataka government withdraws CID probe into police role
- “Death of a relationship”: Taylor Swift allegedly fears Travis Kelce’s retirement decision could create challenges in their relationship
- Nithin Kamath said how for first time in 15 years Zerodha users have fallen; and Groww may just agree with these numbers
- Why Jim Walker, man who foresaw 2008 market crash, wants investors to ‘absolutely double down’ on Indian equities
- SSC CGL final result 2024 declared: Check cut off marks, direct link here
Visual Stories
- How to make South Indian Paneer Butter Masala Dosa for breakfast
- 10 ancient animals that still exist
- 10 exotic animals to spot inside Kashmir's Dachigam National Park
- 10 powerful ways to detox and reset your mind
- 10 things parents should never do in the morning before sending kids to school
TOP TRENDS
UP NEXT
Start a Conversation
Post comment