Ludhiana: Hosiery unit owner loses ₹38L to fraud

According to the victim, Manoj Palta of South City, the accused lured him using promises of quick profits in online trading

A hosiery unit owner allegedly lost ₹38 lakh to an investment fraud, officials said.

Cyber crime station-house (SHO) Jatinder Singh said a case was registered under Sections 420 and 120-B of the Indian Penal Code (IPC). (HT File)

They added that according to the victim, the accused lured him using promises of quick profits in online trading.

Police booked six accused , Govind Tak from Rajasthan’s Udaipur, Vikas Trivedi from Kanpur in Uttar Pradesh, Anita Gadhwal from Indore in Madhya Pradesh, Pawan from New Delhi, Shafia Raza from Kolkata in West Bengal and Ram Kumar from Karol Bagh in Central Delhi.

The complainant, Manoj Palta of South City, said he was scrolling a social networking site that on January 31 last year and clicked on an advertisement related to online trading.

Plata alleged he then received a call from an unidentified number and the caller introduced himself as an executive of an online trading support application.

The caller promised him quick benefits by trading through their applications. The caller made him install two apps on his phone.

The complainant claimed that he invested ₹38 lakh after the caller’s requests and his investment accounts were reflected on the applications.

He said he was later unable to withdraw the money.

Cyber crime station-house (SHO) Jatinder Singh said a case was registered under sections 420 and 120-B of the Indian Penal Code (IPC) at the cyber crime police station.