Pune Electrician Nabbed in Multi-Lakh Stock Trading Scam
Delhi Police arrested Rishi Randir Singh from Pune for his involvement in a stock trading scam defrauding a senior citizen of Rs 27 lakh. Singh's account received part of the funds. He was allegedly recruited by scammers to create a bank account used in the fraudulent operations. Investigations are ongoing.
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In a significant breakthrough, Delhi Police have apprehended a cyber criminal from Pune, who allegedly played a pivotal role in a stock trading scam duping a senior citizen out of Rs 27 lakh. The accused, Rishi Randir Singh, was arrested from Delhi's Karol Bagh area, following investigations tracing Rs 8 lakh to his bank account.
The elaborate scam began on social media, where fraudsters contacted the victim, persuading him to install fake trading apps and join a deceptive investment group. The victim was misled into investing with promises of IPO funding and high profits. Threats and intimidation were later used to extort additional money.
Authorities revealed that Singh, an electrician by profession, had limited education and was drawn into this racket by individuals promising Rs 30,000 monthly for opening a bank account. This account was later used for channelling funds. Investigations are ongoing to uncover further details and other possible victims.
(With inputs from agencies.)
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