Man arrested for Rs 1.18 crore cyber fraud

The Cyber police station team of the Rohtak police has arrested a member of a gang that defrauded a resident of Rs 1.18 crore in the name of making profits by investing in the stock market.

Cyber police station in-charge Inspector Kuldeep Singh said a case was registered on the basis of a complaint lodged by Budhram, a resident of Sector 2 in Rohtak, on December 17, 2024. The preliminary investigation revealed that on November 6, 2024, Budhram received a call from a woman who identified herself as Kirti Gupta, a representative of SMC Global Security Limited. She claimed that her company offered high returns through stock market investments and asked Budhram to open a VIP institutional trading account.

She opened an account using Budhram’s personal information. Budhram deposited money into the account. On December 7, 2024, the company allotted him 266,500 IPOs, which, he was told, were worth Rs 31,215,600. However, Budhram’s request to cancel the IPO was turned down, maintaining that the company offered interest-free loans of Rs 1.5 crore for seven days. Budhram was sent a loan agreement and told that his Rs 1.5 crore loan had been disbursed. On December 13, 2024, Budhram sold 166,400 shares of NISUS Finance Services Limited for Rs 2,99,41,630.

The complainant tried to withdraw Rs 1.5 crore from this amount, but was unable to do so. When he checked the documents he provided, those were found to be fraudulent.

Budhram said he transferred Rs1.18 crore to the account from November 12, 2024, to December 11, 2024. During the investigation, the accused, Sonu, a resident of Sirsa, was arrested on October 24.