9 nabbed for stock market investment scam
NEW DELHI: The Delhi Police’s Special Cell has dismantled a gang of fraudsters posing as stock market experts and arrested nine members, where the gang used the trading app “CHC-SES” to lure victims into investing with promises of high returns.
The police were informed about the fraud through a complaint registered at the IFSO Special Cell.
According to the Police, the operation came to light following a complaint filed on January 17, by Vishal Sodhi from Uttam Nagar, New Delhi.
Similar complaints were also lodged by Manoj Kumar, Rajbir Yadav, and Shailendra Kumar, all alleging they were duped through the CHC-SES trading app.
The scheme resulted in a total cheating amount of approximately Rs. 2.38 crore from four victims.
The victims were added to a WhatsApp group where they received online tutorials on how to invest in trading for high returns.
They were subsequently convinced to invest large sums into various companies through their bank accounts.
A formal case was registered under sections 419, 420, 120B of the IPC and sections 66C, 66D of the IT Act
at the Special Cell, on February 16. The investigation revealed 25 different beneficiary bank accounts where the victims were instructed to deposit their money.
Using technical surveillance and digital footprints, one accused, Munish Sharma, was identified and arrested. His arrest led to the capture of eight more accomplices.
The gang’s modus operandi involved contacting financially vulnerable individuals, convincing them to open bank accounts with promises of commissions, and then using their documents to create bogus firms.
Over 400 fake firms and 400 current bank accounts were linked to these operations. Key figures in the
scam include Munish Sharma, who induced people to open bank accounts, Gaurav Kumar, who purchased and sold these accounts for cyber fraud, and Vikas Bansal, who opened numerous accounts and floated bogus firms.
Others arrested include Paramjit, Ram Kumar Raman, Tushar Garg, Manoj Bansal, Rajesh Kumar Goyal, and Rachna, all playing various roles from opening accounts to facilitating fraud.
During the raid, authorities recovered 84 mobile phones, 250 SIM cards, two laptops, multiple checkbooks,
voter identity cards, and ATM cards.
