The Vadodara Cyber Crime Police in Gujarat have arrested two suspects involved in an online investment scam that cost a victim Rs 9.24 lakh. The accused, Ahmed Raza Daroga and Abdul Rehman Sheikh, were caught after the victim reported being tricked by a Facebook advertisement promoting stock Market investments. Initially drawn in with a bonus, the victim ended up investing over Rs 10.67 lakh but was unable to withdraw any earnings, leading to the suspects cutting off contact. Investigations revealed the fraudsters funneled more than Rs 7 crore through multiple accounts linked to this scheme, with over 150 complaints filed nationwide. Additionally, 17 other individuals were arrested in connection with a separate cybercrime that defrauded a local resident of Rs 94 lakh.
Gujarat Police Crack Down on Online Investment Fraud, Two Arrested
Vadodara, Gujarat – The Cyber Crime Police in Vadodara have recently made significant arrests in an online investment fraud case. Two suspects have been caught after they allegedly duped a victim out of Rs 9.24 lakh. The arrested individuals are Ahmed Raza Daroga, 24, and Abdul Rehman Sheikh, 31. Both were taken into custody from the Wadi area of Vadodara.
The fraud came to light when a victim reported being lured by a Facebook advertisement promising high returns in the stock Market. After clicking the ad, the victim was invited to join a WhatsApp group where they were given stock tips. Following the fraudsters’ guidance, the victim initially received a bonus of Rs 10,000 but was soon encouraged to deposit a total of Rs 10.67 lakh, believing they had made a profit of Rs 1.43 lakh. Unfortunately, they could not make any withdrawals, and communication with the scammers abruptly ended.
Authorities discovered that the suspects set up multiple bank accounts to facilitate their fraudulent activities. In fact, investigations revealed that over Rs 7 crore had been funneled through these accounts, and there are over 150 complaints related to this scam filed on the National Cyber Crime Portal across 19 states.
In a separate incident, the Cyber Crime Unit in Vadodara apprehended 17 individuals linked to an interstate racket, accused of scamming a local resident out of more than Rs 94 lakh through a fake stock Market application. The victim, Rajiv Ramakrishna, was also drawn in via a social media advertisement promoting lucrative investment returns.
This news serves as a critical reminder for individuals to be cautious when engaging in online investment opportunities, especially those promoted through social media.
Tags: Gujarat, Cyber Crime, Online Fraud, Investment Scam, Vadodara Police, Financial Scam, Stock Market Fraud, Social Media Scam
What happened in the fraud case in Gujarat?
Gujarat Police discovered a fraud case involving over 9 lakh rupees, where two people were arrested for tricking people.
How did the police find out about the fraud?
The police received complaints from victims who were deceived, which led them to investigate and arrest the suspects.
What kind of fraud was involved?
The fraud involved deceiving people to take their money, but specific details about the scam are often not released immediately.
Will the victims get their money back?
It depends on the investigation and legal proceedings. The police will try to recover the money for the victims, but it is not guaranteed.
What should people do if they encounter a similar scam?
If someone suspects a scam, they should report it to the police immediately to help prevent others from being cheated.
