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Three people arrested for Rs 31 lakh IPO investment fraud in Delhi
Sarvjeet, an LLB graduate, allegedly provided a mule bank account belonging to Sarvhit Manav Sewa Samiti in exchange for monetary benefits, said police. The account was then handed over to co-accused Pawan and Puneet.
The accused were identified as Sarvjeet (35), Pawan (33) and Puneet (32), all residents of Saharanpur, officers said.
Three people were arrested from Uttar Pradesh’s Saharanpur, in connection with a case in which a tech professional was cheated of Rs 31 lakh on the pretext of investing in initial public offerings (IPOs), police said on Tuesday.
Police said the complainant, employed with a multinational technology firm, was lured into transferring money after being promised high returns through purported IPO investments.
“The syndicate impersonated representatives of a leading investment company and lured victims into investing in IPOs through fake, self-designed websites,” said Deputy Commissioner of Police (DCP) Crime Branch, Aditya Gautam.
“Victims were enticed with promises of high returns and coerced into transferring large sums of money. Fraudulent online investment portals were created to gain the trust of victims. Poor and unemployed youths were recruited to open and operate mule bank accounts, facilitating the laundering of proceeds of crime,” he added.
The accused were identified as Sarvjeet (35), Pawan (33) and Puneet (32), all residents of Saharanpur, officers said.
Sarvjeet, an LLB graduate, allegedly provided a mule bank account belonging to Sarvhit Manav Sewa Samiti in exchange for monetary benefits, said police. The account was then handed over to co-accused Pawan and Puneet.
Meanwhile, Pawan, educated up to Class 12, allegedly arranged and supplied mule bank accounts to cyber criminals, officers said. According to police, Puneet is accused of supplying bank account kits to the investment fraud syndicate after receiving them from Sarvjeet and a previously arrested accused, Deepak Saini.
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Meanwhile, the Cyber Cell of the Delhi Police Crime Branch has reiterated its advisory to people to verify investment offers, avoid unverified online platforms, and report suspicious activities on the National Cyber Crime Reporting Portal (NCRP).
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