Rajasthan resident arrested for Rs 27L online investment fraud

The police have arrested the prime accused in connection with an online investment fraud case involving approximately Rs 27 lakh. The arrest marks a breakthrough in the ongoing investigation into the cyber fraud racket that lured victims through fake stock market investment schemes.

The accused has been identified as 26-year-old Aditya Jain, a resident of Jaipur, Rajasthan. With his arrest, a total of four individuals have been apprehended so far in FIR dated February 17, registered at the Cyber Crime Police Station.The case was registered following a complaint by Sachin Aggarwal, who reported that he had come across a Facebook advertisement offering lucrative stock market investment opportunities. After joining a Telegram group linked to the advertisement, he was persuaded by the accused to invest through a mobile application. The app displayed fake profits and offered trading tips, online sessions and promotional rewards to gain the victim’s trust. Believing the scheme to be genuine, the complainant transferred around Rs 27 lakh through multiple IMPS transactions to bank accounts provided by the fraudsters.

The police investigations revealed that the bank accounts used for the transactions had been fraudulently opened as part of an organised cyber fraud network. Earlier, three other accused, Manjeet Buri, Ashish Saxena and Himanshu Gautam, were arrested during raids conducted in Jaipur. They disclosed that Jain was the mastermind who arranged bank accounts for the racket.

Jain had reportedly fled to Dubai after committing the fraud to evade arrest, prompting authorities to issue a lookout circular. He was later apprehended by Rajasthan Police in another case with assistance from Interpol. Chandigarh Police subsequently obtained production warrants and formally arrested him on March 7, securing two days of police remand.

Investigators have also found that mobile numbers recovered from the accused are linked to more than 350 cyber fraud complaints and 13 FIRs across various states.

The police have urged the public to remain cautious of online investment advertisements and verify sources before making financial transactions online.