Bhopal’s Cyber Crime Branch has arrested an accused from Nagpur, Maharashtra, for providing bank accounts to a gang involved in defrauding people in the name of share market trading. The accused helped the gang launder money by supplying fake bank accounts, which were later used to scam investors.
According to officials, the gang targeted victims by sending fraudulent investment messages, impersonating major stock market companies. Initially, they returned small investment amounts to gain the victims’ trust. However, once a significant sum was invested, they blocked the victims’ accounts and disappeared.
The criminals used WhatsApp for communication and sold fake bank accounts at high prices to cyber fraudsters. The arrested individual was found to have facilitated financial transactions for the gang, which defrauded investors of Rs 1.43 crore. Following his arrest, he was sent to jail.
Victim Scammed of Rs 85.3 Lakh in Share Market Investment Fraud
A complaint was lodged on July 12, 2024, by a Bhopal resident, Anand Singh (name changed), who reported being scammed after he was added to a WhatsApp group named "C57 Accel Student" in April 2024. In the group, discussions took place regarding profitable stock market investments.
Singh was contacted on WhatsApp from multiple numbers by a woman named Casey Aylward, who convinced him to invest in a company called "Accel", promising high returns. She provided a link to an application called "ACVVL ONLINE" for trading and assigned a username and password.
Over time, Singh deposited a total of Rs 85,30,000 in the bank accounts provided by the scammers between May 21, 2024, and July 5, 2024. His wallet on the fraudulent platform showed a total profit of Rs 3,77,38,072.98. However, when he attempted to withdraw the money, the scammers demanded that he first deposit 20% of the profit amount before accessing his funds.
Realizing the fraud, Singh approached the Cyber Crime Branch, leading to the investigation and subsequent arrest. The police are continuing their probe to track down other members of the gang.
Further investigation is underway.
