Gurugram police arrest two in separate stock market frauds

A senior official said that Roy and his accomplices lured the victim to invest in stock market schemes and later cut all contact once the money was transferred.

Gurugram: A 24-year-old man posing as a stockbroker and businessman was arrested on Saturday for allegedly duping a resident of ₹6 crore in a stock market investment fraud, police said. The victim, who filed a complaint at Sadar police station, stated that the accused had promised high returns to lure the victim into investing, said officials.

The victim stated that the accused had promised high returns to lure the victim into investing, said officials.

A team of Economic Offences Wing-I of Gurugram police arrested the accused, identified as Anshuman Roy, a BBA graduate, from his native village in Assam’s Bongaigaon district. “With the help of technical assistance and secret information, he was caught in a case registered on October 9,” a senior police official said, requesting anonymity.

A senior official said that Roy and his accomplices lured the victim to invest in stock market schemes and later cut all contact once the money was transferred. “Around ₹2.85 crore was allegedly transferred to Roy’s personal account,” the official said, quoting the complaint of the unidentified victim.

Police said the group also threatened the victim, claiming to hurt his family, when he asked for his money back.

“The accused was produced before a local court on Saturday before being sent to a police remand of four days. Police are trying to ascertain the identities of other members operating from Assam to lure residents of Gurugram into fraudulent stocks,” Sandeep Turan, public relations officer of Gurugram police said.

Another investment fraud of ₹4.49 crore came to light

In a separate incident, a 45-year-old director in a private stockbroker firm was arrested for allegedly duping a resident of Sector 29 to buy a particular stock at ₹20,000, promising significant gains, police said. The accused, identified as Ravi Chauhan, a resident of Kolkata in West Bengal, had allegedly arranged ₹4.49 crore for his entity ‘Kalpatru Share and Stock Broking Exchange’, instead of investing it in the stock market, according to officials investigating the matter.

Based on a complaint filed at DLF Sector 29 police station, an FIR was registered against the accused under sections 316(2) (criminal breach of trust), 318(4) (cheating) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS) on October 13.

“Preliminary investigations revealed that the accused had faced massive losses in 2016. To recover, he started luring residents to invest in stocks and those who fell in his trap allegedly never received their money back,” Turan said, adding an investigation is underway.