student loses Rs.52L in stock market scam, 3 frauds held
MUMBAI, May 22 -- The North Cyber Police have arrested three men for allegedly duping a 21-year-old college student of Rs.52 lakh through a fake stock market investment scheme.
The accused-Mohammad Asif Mohammad Aslam Rahim, 28, Sushant Suresh Sapkat, 26, and Yusuf Mohammad Sheikh, 30-were arrested on Monday and remanded to police custody by a Borivali court.
Investigators said the trio provided their bank accounts to cyber fraudsters, received the cheated money, withdrew it, and handed it over for a commission.
The complainant, an M.Com student from Malad, filed a case after she was unable to withdraw funds from a suspicious trading platform.
Her ordeal began in February 2024 when she clicked on a link while researching stock trading online. She was added to a WhatsApp group administered by two individuals, Vinod Nair and Sushant Kumar, who shared stock tips and claimed to offer high returns.
Gaining her trust, Kumar convinced her to invest through a linked platform. Over the next few weeks, she invested Rs.52 lakh without informing her family. Initially, the platform showed profits, but when she attempted to withdraw funds, the transaction failed.
She was then asked to pay Rs.2.5 lakh as a 10% penalty, which she did-but still couldn't access her money.
Eventually, she was removed from the group, and her messages were ignored.
Realising she had been duped, she approached the police via the Cyber Helpline.
Investigators traced the money to bank accounts linked to the three accused, who admitted to withdrawing and handing over the funds to the fraudsters....
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