Four people, including two bank employees, were arrested for allegedly duping people of Rs 16.70 lakh through fake trading application, police said on Monday.
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Four people, including two bank employees, were arrested for allegedly duping people of Rs 16.70 lakh through fake trading application, police said on Monday.
The complainant lost the aforementioned money after clicking on an advertisement regarding stock market investment on social media and was added to an investment group and was asked to download an app named ‘QuantsAIS’.
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“Initially, he invested Rs 10,000 and the app showed returns which lured him to invest more and made a total investment of Rs 16.70 lakh and when he attempted to withdraw the amount, he was removed from the group,” Deputy Commissioner of Police (central) M Harsh Vardhan said.
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Subsequently, a case under section 318(4) (cheating) of BNS was registered at Cyber Police Station, Central District and investigation was taken up.
The cop mentioned that during the investigation, detailed analysis of bank statements and records of suspected mobile numbers was carried out, and it was found that the defrauded amount had been transferred to multiple bank accounts.
Based on the technical analysis, Aman Kumar (29) and Rahul Tyagi (39), both facilitators of the fake accounts were arrested and 11 cheque books, three PAN cards in the names of unknown individuals were recovered.
The modus operandi of the gang involved opening bank accounts with the help of Ankit Nagar and Abhishek Singh, both bank employees, by floating shell companies to carry out investment fraud.
The cop mentioned that a further investigation to identify other persons and accounts linked to this racket is going on.
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