Kolkata, Nov. 27 -- The West Bengal Criminal Investigation Department (CID) has arrested five individuals in connection with a sophisticated cyber-fraud case in which a Kolkata-based medical practitioner, Rajkumar Bhattacharjee, was deceived into losing nearly Rs 36 lakh.
The scam was executed through a bogus investment application that falsely used the branding and name of the well-known financial services firm "5paisa Capital," leading the victim to believe he was making legitimate stock-market investments.
The case first came to light when Bhattacharjee approached the Barasat Cyber Crime Department after realising that the returns promised through the app were fictitious.
However, as the investigation revealed a complex, multi-layered...