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Man arrested for duping over 500 of ₹15 crore on pretext of currency trading
The suspect was running a fake firm ‘Amdani Solutions’ in Indore. He had hired around 10 people who used to call people and lure them saying their money will be doubled.
The cyber cell of Uttar Pradesh Special Task Force in Noida arrested a man on Monday for allegedly duping several people by opening their demat accounts on the pretext of currency trading.
According to Reeta Yadav, in-charge of cyber crime police station in Sector 36, Noida, the suspect has been identified as Shoaib Mansoori, a resident of Devas, Madhya Pradesh.
“During interrogation, the suspect revealed that he has dfrauded people of about ₹15 crore by opening over 500 demat accounts. We are trying to nab other suspects in the case and investigation is being carried out by police officials of other states as well,” said the officer.
“The suspect was produced before a magistrate and sent to jail on Tuesday,” said officials.
Ghaziabad resident Ashok Kumar Mishra had filed a complaint in February alleging that he was duped of ₹15 lakh through a mobile-based application on the pretext of currency trading.
“The suspect was running a fake firm ‘Amdani Solutions’ in Indore. He had hired around 10 people who used to call people and lure them saying their money will be doubled. The complainant had also received a similar call after which he opened a demat account and downloaded an android mobile application on the direction of the callers,” said Yadav, adding that it was revealed that the suspects used to dupe people through a mobile application, called Metatrade-05.
“The customers used to transfer money in the demat accounts through the app. The suspects had complete access to the demat accounts. Customers used to see increased amounts reflected on the app. The customers, therefore, trusted the currency trading app and invested more but in reality the amount was not increasing,” said the officer.
The suspect has been booked under relevant sections of cheating and fraud of the Indian Penal Code and the IT act.
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