Panchkula: Two held for Rs 48-lakh share market fraud

The Cyber Crime Police Station team arrested two more men in connection with a Rs 48.5 lakh cyber fraud case.

According to the information, fraudsters lured the victim with promises of high returns on investments in the share market. The team has arrested two accused on Monday, bringing the total arrests in the case to three.

The case was registered on May 21 following a complaint by Gurmukh Singh, 62, resident of Shiv Colony, Bitna Road, Pinjore. He reported that on February 13, he saw a share market advertisement on YouTube. Through the link, he joined a WhatsApp group where members convinced him to open a trading account, eventually defrauding him of Rs 48.5 lakh.

During investigation, the police first arrested Suresh Kumar Verma of Ganganagar, Rajasthan, currently residing in Zirakpur, Punjab, on August 9. He was remanded to eight days’ police custody and later sent to judicial custody on August 18. Based on leads, two more accused, Ritesh Kumar and Pravesh Kumar, were apprehended and placed under eight-day police remand.