Uttar Pradesh Man Arrested in ₹32 Lakh Stock Market Fraud Case

 
Uttar Pradesh Man Arrested in ₹32 Lakh Stock Market Fraud Case
Uttar Pradesh Man Arrested in ₹32 Lakh Stock Market Fraud Case

Hathras, Uttar Pradesh: Cybercrime police arrested an accused in a ₹32 lakh online stock market fraud following a complaint lodged by Naresh Rohilla, a resident of Amravati Enclave.

Facebook Stock Market Ad Led to Fraud

According to reports, in April, Rohilla came across a stock market investment advertisement on Facebook. He was asked to download a fake trading application where a so-called “relationship manager” convinced him to invest. Over ₹32 lakh were siphoned off through this scam.

Police Action and Arrest

Acting on the complaint filed on June 20, police managed to freeze nearly ₹4.5 lakh of the stolen amount. On August 12, a cybercrime team used technical surveillance to track down and arrest the accused, identified as Rohit Sharma, from Hathras.

Investigation Underway

The accused has been remanded to six days of police custody. Authorities confirmed they have obtained vital leads and are working to trace others involved in the fraudulent network.

Common Stock Market Fraud Techniques

Experts warn investors to be cautious of common scams, which include:

·         Insider Trading: Using unpublished sensitive information for personal gain.

·         Pump and Dump Schemes: Artificially inflating stock prices before selling.

·         Circular Trading: Creating fake high-volume trades to mislead investors.

·         Front Running: Brokers placing trades ahead of client orders.

·         Fake News & Tips: Spreading misleading information to manipulate stock movements.

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