Ghaziabad: A 23-year-old man was arrested on Tuesday for cheating people of over Rs 3 crore on the pretext of earning profits through share trading.
Accused Mohammad Nadeem, is part of a gang with two others, Ankit and Arun, an officer said, adding that they Ankit and Arun are currently absconding.
According to police, the gang met on a gaming platform and planned to execute the fraud. They created a fake firm named Dev Logistics and opened a current bank account in a private bank as part of the plan.
A senior officer said the matter came to light when Shivraj Singh Yadav, a resident of Rajnagar Extension, lodged a complaint. Yadav said he was added to a WhatsApp group and lured into investing in a fake share trading website called ASK MIN. In the process, he lost Rs 1.1 crore, he said. He later approached cops.
A case was registered and an investigation was initiated.
"During the investigation, Rs 9.4 lakh that Yadav lost was recovered and Mohammad Nadeem was arrested from Khoda police station area," the officer said.
The officer added that asearch is under way for the absconding accused, Ankit and Arun."Based on the accused's interrogation, iIt was revealed that their gang had cheated several people from across five states — Uttar Pradesh, Maharashtra, Andhra Pradesh, Gujarat, and Tamil Nadu," he said.
An FIR has been registered against Nadeem and the absconding accused under Section 318(4) (cheating) of the BNS and relevant sections of the IT Act.
Avishek Kumar is a city reporter at the Times of India in Noida a...
Read MoreAvishek Kumar is a city reporter at the Times of India in Noida and Ghaziabad. He reports on crime, fire, and traffic with a particular focus on civic issues. Over the course of more than five years in journalism, he covered a broad spectrum of city beats, including courts and civics. He is committed to pursuing leads and producing hard-hitting, fact-based, field-exclusive reports.
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