Faridabad senior citizen duped of Rs 25 lakh in IPO cyber fraud, 3 held
The Faridabad cybercrime police Tuesday arrested three men from Gujarat in connection with a sophisticated online fraud involving Rs 25.35 lakh perpetrated under the guise of initial public offering (IPO) investments.
The accused have been identified as Jilraj, 19, from Vartej in Bhavnagar, Gujarat; Bhavesh Bhai Longadiya, 22, from Alanagar in Bhavnagar; and Divyraj Manhar Bhai Langabadra from Botad. The trio allegedly facilitated the scam by providing bank accounts used to siphon off the victim's money.
According to a police spokesperson, the case came to light after Deepak Mehta, 73, a resident of Sector-19, Faridabad, lodged a complaint with the central cyber police station. The complainant alleged that he was lured into the scam through a WhatsApp message offering discounted IPO share subscriptions under the name 'HDFC Securities'.
He was subsequently added to a WhatsApp group named 'HDFC Securities Official', where regular updates on stocks and IPO investments were shared to gain his trust, as per the complaint.
The victim was then allegedly directed to open an account on an app called 'HDFC VIP' for IPO investments. Over time, he allegedly invested Rs 25,35,322 through multiple transactions, acting on instructions and with the belief that the money was being used to buy heavily discounted shares in the IPOs of companies like Ola Electric. However, when he attempted to withdraw his funds, he was unable to do so. Realising he had been duped, he complained to the police.
The police filed a case under relevant sections for cheating and fraud. During interrogation, the police discovered that Jilraj had opened a bank account in the name of Udit and transferred it to Divyraj, who then handed it over to Bhavesh. Bhavesh then allegedly provided the account to the fraudsters orchestrating the scam.
The police said Jilraj is a graduate, Divyraj completed Class 12, and Bhavesh is pursuing a BSc degree. The primary account holder, Kuldeep, allegedly received Rs 1.5 lakh of the defrauded amount. Kuldeep, along with Udit and Varun, were arrested earlier in the investigation. The three newly arrested accused were produced before a local court and remanded in judicial custody.
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