Two cyber frauds dupe businessman of ₹9 cr, arrested

Bothra complained that he was added to a WhatsApp group that purportedly offered lucrative share market trading tips, and ended up transferring ₹9.09 crore

Noida: The Noida police on Thursday busted a cyber fraud gang for cheating Sector 41 resident of ₹9 crore on the pretext of investing in the share market by luring him through social media chat groups, officers said, adding that two people have been arrested from Surajpur-Kasna road in Greater Noida.

Investigation revealed that the swindled funds were transferred to bank accounts spread across locations, including Chennai (Tamil Nadu), Assam, Bhubaneswar (Odisha), Haryana, and Rajasthan. (Representational image)

The arrests came days after Rajat Bothra, 41, a Noida-based businessman, filed a complaint at the cybercrime police station in Noida on May 31 alleging that he was duped of ₹9.09 crore by cyber thugs.

Acting on intelligence inputs, the suspects were finally arrested on Thursday from Greater Noida, with police identifying them as Akram alias Sam alias Lauki (28), and Sushil Kumar (45), both residents of Bareilly.

In his complaint, Bothra had stated that he was added to a WhatsApp group on April 28 that purportedly offered lucrative share market trading tips. He ended up transferring ₹9.09 crore in 13 installments over the month of May, having fallen prey to a cyber fraud scheme that promised fruitful returns.

According to assistant commissioner of police, cyber, Vivek Ranjan Rai, the complainant began engaging with the group, wherein a link to download a mobile application was shared.

“Bothra was told to ‘buy shares’ through this app on the promise of multi-fold returns. By May 27, he had invested a staggering ₹9.09 crore. After his trading account was abruptly closed, he realised that he had been duped,” the officer said.

Investigation revealed that the swindled funds were transferred to bank accounts spread across locations, including Chennai (Tamil Nadu), Assam, Bhubaneswar (Odisha), Haryana, and Rajasthan, ACP Rai said.

“During interrogation, Akram informed that about three years ago while searching for a job online, he came in contact with one Shaan, a Dubai resident. Through him, Akram met Sushil, who was already working for Shaan and used to provide him bank accounts for transfer of defrauded money. Sushil asked Akram to share his bank account details for transfer of money, in return he will get 1 percent commission of the total defrauded amount,” he added.