Noida: Haridwar man arrested over ₹1 crore cyber fraud

The investigation revealed that the suspect allegedly provided his bank accounts to cybercriminals, who used them to receive fraudulent money

Noida: A 54-year-old man from Haridwar has been arrested for being allegedly involved in a ₹1 crore cyber fraud case in which a Noida resident was duped on the pretext of stock trading between April and August 2024, police said on Sunday. The case was reported at the Cybercrime Branch police station on this April 7.

Police said suspect Sharma’s bank accounts had been flagged by six states over 13 cyber fraud cases. (Representational image)

The suspect has been identified as Rajendra Sharma, a resident of Ranipur, Haridwar, police said on Sunday.

“After months of extensive technical investigation, we arrested Sharma from his hometown in Haridwar on Saturday. The investigation revealed that Sharma allegedly provided his bank accounts to cybercriminals, who used them to receive fraudulent money. He received a commission for providing his accounts,” said deputy commissioner of police (DCP) (cybercrime branch) Preeti Yadav.

“ ₹5.5 lakh was transferred into Sharma’s account. It also came to light that some of his acquaintances too provided their bank accounts to the fraudsters. Efforts are underway to nab them too,” the DCP added.

Police said Sharma’s bank accounts had been flagged by six states over 13 cyber fraud cases.

The victim is a resident of Sector 77, Noida. On April 7, 2025, he informed the cybercrime branch police station, that on April 23, 2024, he was lured into stock market trading for huge profits after being sent a WhatsApp message from an unidentified number.

“The fraudsters claimed their company was a parent company of an American multinational investment bank and duped the victim of ₹1 crore. When he insisted on meeting them in person, he was asked to come to Mumbai. There, he learned from the multinational investment bank that no such associated company existed. He then filed a complaint. After investigation, a case of cheating and personation under the Bharatiya Nyaya Sanhita (BNS) was registered on April 7,” police said.