Noida Police arrest cyber fraudster in Rs one crore share market scam
New Delhi, June 22 (IANS/WISHAVWARTA) In a significant breakthrough, the Noida Cyber Crime Police in Uttar Pradesh have arrested a cyber fraudster involved in duping a resident of Rs one crore under the guise of share market investments.
The accused, identified as Rajendra Sharma, son of Radharman Sharma, was taken into custody from Noida.
Police confirmed that efforts are currently underway to trace his accomplices, who are part of a wider cybercrime syndicate operating across multiple states.
According to officials, the case was initiated after a resident of Sector-77, Noida, filed a complaint alleging that he was tricked by cyber criminals who promised high returns through share market trading.
Trusting the scheme, the victim transferred a total of Rs one crore into multiple bank accounts provided by the fraudsters.
ADCP (Cyber Crime) Manisha Singh said, “Earlier, based on the complainant’s report, a case was registered at the Cyber Police Station, Noida regarding cyber fraud and cheating in the name of share market investment and trading. Approximately Rs 1 crore was fraudulently transferred from the complainant’s account to various other accounts. One person was arrested in connection with the case.”
Following the complaint, cyber police promptly registered a case and froze the fraudulent bank accounts to prevent further transactions. During interrogation, the accused confessed to opening bank accounts in collaboration with others.
He admitted that Rs 5.5 lakh of the defrauded money was funnelled into one such account and later redistributed to other accounts controlled by his associates.
Further investigation through the National Cybercrime Reporting Portal (NCRP) revealed that the account operated by Rajendra Sharma is linked to at least 13 previous cyber fraud complaints, including five in Haryana, three in Maharashtra, two in Delhi, and one each in Uttar Pradesh, Rajasthan, and West Bengal.
“Efforts are ongoing to identify and apprehend the remaining members of this cyber fraud network,” ADCP Singh added.
The Noida Police have urged citizens to remain vigilant and verify financial platforms before making any transactions.
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