Four held for duping ₹26 lakh from Noida resident

From November to December 31, 2024, he transferred ₹16,06,000 in multiple transactions in the app for trading but when he wanted to withdraw profit, he was asked to first pay 20% commission

Four Ghaziabad-based men, including the assistant manager of a private bank, were held for allegedly duping a 50-year-old Noida resident of ₹26 lakh after luring him into their trap with promises of huge returns on share trading between October 2024 to January 2025, police said on Friday, adding that ₹6.3 lakh has been freezed in multiple bank accounts so far.

The suspects have been identified as Kuldeep Giri, Shadab Hussain, who works as an assistant manager with a private bank in Ghaziabad, Sahil, and Khushi Mohammad, all residents of Ghaziabad, said police. (HT Photo)

The suspects have been identified as Kuldeep Giri, Shadab Hussain, who works as an assistant manager with a private bank in Ghaziabad, Sahil, and Khushi Mohammad, all residents of Ghaziabad, said police.

“On October 21, victim Anami Pandey was added to a WhatsApp group and later contacted by a group member in a private message on November 8. The suspects made Pandey believe that they are running a Securities and Exchange Board of India (SEBI)-registered company that was involved in share trading,” said a senior police officer, asking not to be named.

“The suspect sent Pandey a SEBI-issued certificate of their company, which was found to be genuine when the victim verified it. Later, he was asked to fill out a form for approval and sent him a link to add him to another group,” the officer said.

“Despite multiple requests when suspects did not allow him to withdraw the money, he deposited the 20% commission of ₹10,06,727 through RTGS.”

Later, when the victim was directed to deposit more on the pretext of taxes till January 10, he realised that he was being duped and approached the cybercrime police. “A case under sections 318 (cheating) and 319 (cheating by personation) of the Bharatiya Nyaya Sanhita and IT Act was registered on January 13, and four suspects were held on Thursday,” said Yadav.

Police recovered seven mobile phones, three SIM cards, five ATM cards, a bank chequebook, and five PAN cards from their possession.