Delhi: 44-year-old CA held for duping woman of ₹4.75 crore

A chartered accountant, Mukesh Garg, was detained for allegedly duping a share trading firm director of ₹4.75 crore, promising high stock market returns.

A 44-year-old chartered accountant (CA) was detained for allegedly duping the director of a private share trading firm of over ₹4.75 crore by promising large profits through stock market investments, the police said on Friday.

The accused, identified as Mukesh Garg, was nabbed from his residence in Kaushambi, Ghaziabad. (Representational image)

The accused, identified as Mukesh Garg, was nabbed from his residence in Kaushambi, Ghaziabad. Police said they were able to recover ₹4.74 crore of the cheated amount after swiftly alerting the Indian Cybercrime Coordination Centre (I4C) and freezing multiple layers of bank transfers involved in the fraud.

“We held Mukesh Garg after registering a case of cheating, impersonation, and use of forged documents under sections 318, 319, and 340 of the Bharatiya Nyaya Sanhita,” said Aishwarya Sharma, additional deputy commissioner of police (southeast).

The complaint was lodged by Ashima Nayyar, a director at a private share trading firm, who claimed that Garg had offered her high returns on stock market deals. On his assurance, she transferred ₹4.75 crore in seven tranches to his bank account. However, Garg stopped responding after receiving the funds and did not return the money despite repeated requests.

Because the amount involved exceeded ₹50 lakh, the case has now been transferred to the Intelligence Fusion and Strategic Operations (IFSO) unit, which specialises in cybercrime investigations. “He will now be handed over to the IFSO team for further interrogation,” Sharma added.

Garg is also the director of a Noida-based firm where he allegedly ran his operations.