‘Invest More To Retrieve Bank Account’: Woman Duped Of Rs 18 lakh in Delhi, 2 Held

New Delhi: In a case of cyberfraud, a woman in Delhi was duped of Rs 18 lakh after she joined a WhatsApp group that was meant for teaching stock chart analysis. Police have arrested two people in this regard. 

The two accused have been identified as Mohamad Ali (25) and Deepu P (25), both residents of Bangalore, Karnataka. 

Victim in this case, told the police that members in the group claimed they would teach stock chart analysis and broadcast their lessons daily via a link. 

Joined Group To Learn Stock Markets

“They persuaded her to open an institutional account, buy two shares daily, and sell them the next day to earn profits, the police officer said.The suspects presented themselves as representatives of MC Group & LKP Securities. The complainant opened her institutional account with them and invested Rs 18 lakh from her UCO Bank account in three transactions into the accounts provided by the suspects,” police said. 

Pay More To Retrieve Bank Account

Later, the victim wanted to withdraw the money but to her surprise, her attempts to take out money from the account failed. Later she notified the group members about the same, however, they asked her to invest more to retrieve the bank account. Subsequently, she registered the police complaint.  

Police registered a case under Section 420 of the IPC, and an investigation was initiated.

The police team employed a dual strategy in their investigation: tracking the money trails and pursuing technical leads, the DCP said.

During the investigation, it was revealed that the defrauded amount was credited to three different bank accounts. Of the total of Rs 18 lakh, Rs 4 lakh was credited to the Federal Bank account associated with Deepu.

Following an extended interrogation, Deepu P and Mohamad Ali confessed to opening nine current accounts—three each with Federal Bank, SBI, and RBL—and handing these accounts over to an unidentified individual via WhatsApp. They received a commission of Rs 1,10,000 each for these accounts.