IT graduate among 2 held for duping Panchkula jeweller of ₹9.7 crore
The accused allegedly kept showing the complainant that his invested money had doubled to lure him; through further inquiry, the police team, under inspector Lalit Kumar, obtained details of the investment website and mobile numbers used by the fraudsters, leading them to the two accused
Cracking a cyber crime case wherein a Panchkula-based jeweller was duped of ₹9.68 crore through a stock investment fraud, the local police have arrested two accused, including the mastermind who holds a BSc in information technology (IT).
DCP Himadree Kaushik said the mastermind, Jatin Jindal, along with his accomplice, Mushtaq Mohammad, both from Patiala, had been arrested through technical intelligence.
The complainant, Lalit Singla, 48, a resident of Sector 7, had told police that he ran a jewellery shop in Manimajra. In December 13, 2023, he received a link to join a WhatsApp group, where the members were trading in shares.
On March 6, 2024, he was told about an exchange that deals in crypto currency and asked to open an account, which he did. Trading through the account, he invested a total of ₹9.68 crore from April till June.
When he asked for a refund, the scammers asked him to deposit 10% of the total amount deposited. They then sent him a courier from Pune, informing him over chat that an Apple iPhone was being sent to him in lieu of the money invested.
On checking the website being used for investments, he discovered it was fake and approached the police, who subsequently lodged a case under Sections 406 (criminal breach of trust), 420 (cheating), 467 (whoever forges a document), 468 (forgery), 471 (using as genuine a forged document) and 120-B (criminal conspiracy) of the Indian Penal Code was registered.
Launching a probe, police discovered that the complainant had first spoken to a person named James, who was calling from an international number. While trading, he deposited money through 18 transactions.
The accused allegedly kept showing the complainant that his invested money had doubled to lure him.
Through further inquiry, the police team, under inspector Lalit Kumar, obtained details of the investment website and mobile numbers used by the fraudsters, leading them to the two accused.
The DCP said accused Jatin Jindal held a BSc degree in IT and was associated with cyber gangs in various states.
He would open fake accounts and the person in whose name the account was opened would disappear while getting a commission. When arrested, Jindal had come to Zirakpur to open an office there. The other accused, Mustaq Mohammad, was his accomplice.
Officials said they were expecting to make more arrests after interrogating the duo and were working to recover the defrauded amount.
They added that cyber crimes should immediately be reported to helpline number 1930, which will help them freeze the transferred money.