Ghaziabad: Gang that duped 168 people of nearly ₹22 crore in 23 states held for cyber fraud

The suspects would show videos and would lure victims to join online groups on false promises of getting them better returns on investments in share trading

The cyber cyber crime cell of the Ghaziabad police on Monday arrested two members of a gang that allegedly duped 168 persons in 23 different states of about ₹22.42 crore over the past three months using the lure of “high returns” on investments in share trading.

Police said the suspects were involved in 21 cases in Maharashtra, 20 cases in Gujarat, 14 in Delhi, 12 in Andhra Pradesh, 20 in Telengrana, 13 in Karnataka, 11 in West Bengal and seven in Uttar Pradesh. (HT Photo)

The police identified the two suspects as Mathura resident Chetan Sharma, 39, and Bhilwada, Rajasthan resident Rahul Kumar Sahu, 25.

Officers said they were operating in connivance with one Hussain Mohammad, who is believed to be operating from Dubai.

Police said they recovered ₹36 lakhs from the two suspects in cases related to Ghaziabad.

“The suspects would show videos and would lure victims to join online groups on false promises of getting them better returns on investments in share trading. The suspects would also use pictures and names of renowned companies to lure victims into transferring huge amounts to different bank accounts. These accounts were operated by Hussain. He would send a commission to the two suspects,” said Santosh Tiwari, in-charge of cybercrime police station.

The police said they have come to know through different bank accounts allegedly operated by the suspects that 168 persons were cheated of about ₹22.42 crore in total.

“Transactions indicate that 168 persons transferred about ₹22.42 crore to these accounts in all. Three victims are from Ghaziabad and their cases were registered. Two suspects were arrested from Bazaria near Ghaziabad railway station,” Tiwari said.

“The suspects opened small offices in different cities across 23 states and started institutional bank accounts on those addresses. Later, they shut the offices and operated accounts online,” Tiwari said.

The police said the suspects were involved in 21 cases in Maharashtra, 20 cases in Gujarat, 14 in Delhi, 12 in Andhra Pradesh, 20 in Telengrana, 13 in Karnataka, 11 in West Bengal and seven in Uttar Pradesh.

Officers said they will soon get in touch with the respective state police and share information about the gang.