UP Man Arrested For Running Rs 6-Crore Online Scam Via Social Media
The Delhi Police has apprehended a B.Tech graduate from Greater Noida, Uttar Pradesh, for allegedly running a Rs 6.03-crore online investment scam that duped victims via social media, officials said on Wednesday.
Accused Krishna Kumar (29) was tracked down and apprehended from Kulesara in Greater Noida, police said, adding that he allegedly lured people with promises of extraordinary returns in stock trading.
Deputy Commissioner of Police (Crime) Aditya Gautam said the accused induced the victims to join a social media channel named "Plus500 Global CS", where fake profit screenshots, fabricated trading dashboards and scripted chats were used to create the illusion of legitimate profits.
In one such case, the victim was persuaded to invest Rs 6.03 crore in multiple instalments into accounts linked to the syndicate. When the victim attempted to withdraw the funds, he was blocked from the group, the officer said.
During the probe, police discovered that the fraudsters used fake numbers and virtual phone lines to hide their identities. The funds were routed through multiple bank accounts in a layered manner to avoid detection.
A breakthrough came when police traced Rs 57 lakh to an account of "Priyanka Placement and Loan Services", which was found to be a front entity controlled by Kumar, the DCP said.
The accused also operated two cyber cafes that facilitated fraudulent activities and masked financial transactions, he added.
Kumar has been taken into police custody for sustained interrogation to identify other members of the syndicate, police said, adding that advanced digital forensics, device cloning and financial-trail mapping are underway to dismantle the wider network and recover assets.
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