Stock market fraud: How a Delhi woman lost over Rs 23 lakh chasing good returns

economictimes.indiatimes.com:

Rs 23 lakh in a cyber fraud case in Delhi.

According to a report of PTI, the woman got lured after coming across a website on social media that promised high profits by trading in stock market.

On contacting the number on the website, the accused influenced her to invest in the share market to earn huge returns and convinced her to start trading by investing Rs 1,000 in the beginning. She got a return of Rs 1,300 after her first trading

The accused later made the woman invest a huge amount but did not respond to her calls. Following which, the woman approached the cops on April 10.

The Delhi Police then formed a team and started invstigating the case.

The cops stumbled upon the money trail and was found that the amount was deposited in 11 different bank accounts.

During investigation, the police traced the accused to the Maujpur area. The accused, identified as Mohammad Daud, was then arrested following a raid on Tuesday.

The accused is said to be a 29-year-old man and as per police, he used to dupe people with the help of an associate who will be arrested soon.

A total of 17 SIM cards, 11 debit cards, four passbooks, 15 cheque books, two stamps and one phone has been recovered from the accused.

The police said they have been able to recover Rs 8.55 lakh, which is a portion of the cheated amount, from his bank account, while the remaining money was transferred by him to different accounts.