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Time of India
07-05-2025
- Time of India
Man held for duping city resident of Rs 10.5 lakh in online stock trading scam
1 2 Chandigarh: Cyber cell of the UT police arrested a Jaipur resident for allegedly duping a city resident of Rs 10.5 lakh on the pretext of investment in online stock trading. Police produced the accused before the local court, which sent him to judicial said the accused is identified as Lalit Saini, 23, a resident of Jaipur, Rajasthan. The complainant, Vinod Handa, a resident of Sector 49, Chandigarh, stated that he saw an advertisement on Facebook regarding a group promotion for trading in the share market with the name Zerodha. He opened the advertisement and directly joined a WhatsApp group named He invested money three times in different accounts provided by the Oct 3, 2024, he sent a request to withdraw Rs 10,000, which was credited to his savings account. However, his total amount was frozen, and the scammer told him to deposit more money into a different account. He then deposited more money into the given account details. When he sent a withdrawal request from the trading account, they refused to process the withdrawal. The victim was duped a total of Rs 10.50 cyber cell police identified the accused, Lalit Saini, from Jaipur. Police said the accused, Lalit, allegedly opened his bank account in UCO Bank and gave his account kit to another person. Once the account was operational, he used it to receive a defrauded amount of Rs 2 lakh obtained through cyber fraud. Later, he made e-RTGS and IMPS transactions to other accounts.
Indian Express
07-05-2025
- Business
- Indian Express
2 from Rajasthan arrested in stock market scams
The Cyber Crime Cell of Chandigarh has arrested two alleged cyber criminals from Rajasthan in connection with two high-profile stock market investment scams. In the first case, the accused, Mukesh Kumar Gujar, 33, a resident of Rampura Papat, Jaipur, Rajasthan, was apprehended for his involvement in a sophisticated cyber scam, according to the police. The police team said that Gujar had opened a bank account in Rajasthan Marudhara Gramin Bank and handed over the account kit to other fraudsters. The account was used to receive Rs 36 lakh obtained through fraudulent act and subsequently funnelled via RTGS and IMPS to other accounts. The victim, Ashok Kumar of Sector 35, Chandigarh, reported being lured into fake stock market trading via an app presented as IBKR (Interactive Broker). He was first contacted by a woman named Rekha Aggarwal and later by an alleged client manager, Rajiv Mehta. After investing a total of Rs 56 lakh, he was removed from the group and denied access to the app. According to the second case, another accused, Lalit Saini, 23, from Prem Nagar Vistar, Sanganer, Jaipur, Rajasthan, was nabbed for a similar modus operandi. The cyber police found that Lalit had opened a UCO Bank account and handed over the credentials, which was used to receive Rs 2 lakh from the fraudulent activities. The money was later routed through electronic transfers to other accounts. Complainant Vinod Handa of Sector 49-A, Chandigarh, revealed that he was duped of Rs 10.5 lakh after joining a WhatsApp group ( linked to an online stock trading promotion he found on Facebook. After seeing an initial small return, he was persuaded to invest larger amounts. His funds were later frozen, and further payments were demanded before he realised it was a scam. Police said that both accused are currently in police custody, and investigations are ongoing to identify other accomplices and bust the larger cyber fraud network.
