Lured by high returns on investment, Panchkula resident loses Rs 77 lakh

The police arrested a man in connection with a Rs 77.5 lakh investment fraud, wherein he would lure people in with the promise of high returns after befriending them on social media.

According to the police, a Panchkula resident had lodged a complaint on September 4. He told the police that the accused befriended him on Instagram.

The accused later lured him into investing in Forex trading through Telegram, registering him on a fake website after uploading a few documents. Initially, small profits were shown to establish trust, but between different dates in September, the victim was defrauded of a total of Rs 77.5 lakh through a bogus “customer care” number.

Following the complaint, a case was registered under sections 316(2), 318(4) and 61(2) of the Bharatiya Nyaya Sanhita at the Cyber Crime Police Station, Sector-20, Panchkula.

Using technical surveillance and cyber tracking, the team traced the accused within a week. Cyber Crime police station house officer Yudhveer Singh’s team arrested him. He has been identified as Rajesh, son of Shyam Bihari, a resident of New Delhi

The accused was remanded to two days’ police custody, during which vital leads on his associates and network were obtained. Following the expiry of remand, the accused has been sent to judicial custody.

Sharing further details, Deputy Commissioner of Police (DCP, Crime) Manpreet Singh Sudan confirmed that teams are conducting raids to apprehend his accomplices.

He appealed to citizens not to trust unsolicited investment offers on social media or Telegram and to report suspicious activities to the Cyber Crime Helpline 1930 or the official website: www.cybercrime.gov.in.