Four individuals have been apprehended for reportedly deceiving a Vadodara resident of Rs 13.70 lakh under the guise of promising high returns in stock markets, as per officials from Vadodara Cyber Crime Police Station. The suspects, identified as Arpitkumar Chaudhary, Deepak Thakur, Rahul Dalal, all aged 24, and Mohit Tejpal Singh, 31, were captured in Delhi on Thursday by the Cyber Crime Police Station team and transported to Vadodara.
A substantial amount of evidence was seized from the accused, including Rs 5.5 lakh in cash, 24 cheque books, five laptops, 24 mobile phones, various debit cards, and stamps from 11 different companies. It was revealed by the police that the accused executed the investment scam by enticing victims and misleading them to download counterfeit applications.
The modus operandi of the accused individuals entailed placing click-bait advertisements on social media platforms to lure in victims. Once a victim expressed interest, they would be added to a Whatsapp Group that supposedly shared stock market tips and convinced to download a fake app for transferring money for investment. The police stated that after gaining the victim’s trust by showcasing profits on the initial investment and even returning some funds as “profits,” the suspects manipulated them into transferring larger amounts as part of the fraud.
Assistant Commissioner of Police, MM Rajput, from Vadodara Cyber Crime Police Station mentioned, “They lured the victims by showing them big profits in the screenshots. After they initially returned Rs 2 lakh to the victim as ‘profit’, he started trusting them and handed over Rs 15 lakh under the pretext of buying IPOs through multiple bank accounts.” The officers utilized human intelligence and tracked the money trail, leading them to discover that the accounts involved in the transactions were operated from Delhi.
A team of officials from Vadodara Cyber Crime Police Station journeyed to Delhi, conducted surveillance, and successfully apprehended the four accused individuals. According to the police, a total of 76 cyber crime cases have been lodged against the bank accounts linked to the accused, nationwide. Rajput further disclosed, “Although the accused used seven banking accounts in the present case, we have found that about 100 suspected accounts belonging to the accused have been used to transact Rs 30 crore.”
In essence, the accused individuals engaged in a calculated scheme to defraud unsuspecting victims through false promises and deceptive tactics, resulting in significant financial losses. The swift action taken by the authorities in identifying and apprehending the perpetrators showcases the dedication of law enforcement agencies in combating cyber crimes and ensuring justice for the affected individuals. With the growing prevalence of online scams, it is imperative for individuals to exercise caution and vigilance when engaging in financial transactions or investment opportunities to avoid falling prey to fraudulent schemes.