Ludhiana woman losses ₹15 lakh to fraudster through fake trading app

The accused have been identified as Sidhesh Jain, Raj Jain of Gwalior, Jatinder Singh Rathore of Indore of Madhya Pradesh, Mohammad Zahid of Indore of Madhya Pradesh and Rajni Upadhyaye of Ujjain of Madhya Pradesh

In yet another case the police have booked five accused for duping people of lakhs of rupees on the pretext of investing their money through fake trading mobile App. The police have lodged the FIR after investigating the matter for nine months.

ASI Harcharan Singh, who is investigating the case, said that the woman had filed a complaint on August 18, 2022. After investigating the matter the PAU police lodged an FIR against the accused under sections 420 and 120-B of IPC. (iStock)

The accused have been identified as Sidhesh Jain, Raj Jain of Gwalior, Jatinder Singh Rathore of Indore of Madhya Pradesh, Mohammad Zahid of Indore of Madhya Pradesh and Rajni Upadhyaye of Ujjain of Madhya Pradesh.

The FIR has been lodged following the statement of Anureet Kaur of Gurcharan Park of New Model Town. The woman stated that she received a call from Sidhesh Jain, who introduced himself as an executive of a trading App. He asked her to invest through the app for huge and quick profits. The accused told her that they will charge 30 percent of the profit as their charges, while they will transfer 700 percent of the total profit in her account. The woman stated that she had invested ₹15.85 lakh through several bank transactions, but did not get anything in return. The accused had stopped answering her calls.

ASI Harcharan Singh, who is investigating the case, said that the woman had filed a complaint on August 18, 2022. After investigating the matter the PAU police lodged an FIR against the accused under sections 420 and 120-B of IPC. A hunt is on for their arrest.

Earlier on May 15, the Ludhiana police had busted a gang of fraudsters who were involved in duping people through a fake trading app. The accused used to lure people by asking them to invest their money through their app called V-Trade for huge and quick profits. The accused had duped investors for crores of rupees, but no one made a complaint to the police, as majorly the people had invested unaccounted money through the App.