Cyberabad Police Arrest Three For Cheating Woman Of Rs 61.39 Lakh In Fake Trading Scam

The Cyberabad Police cyber crime wing arrested three men from Madhya Pradesh for their involvement in a fake online trading and IPO investment scam that cheated a woman of ₹61.39 lakh. The arrests, which took place between June 25 and July 12, were part of a wider crackdown in Cyberabad where 13 individuals were apprehended across multiple states in connection with eight separate cybercrime cases.

The arrested trio from Madhya Pradesh was identified as Tilak Seiwal, Kapil Ahir, and Sumit Ahir. According to investigators, the three accused knowingly created and provided bank accounts to cyber fraudsters to receive and route the stolen money in exchange for commissions.

The fraud began when the victim was lured through a sponsored advertisement on Instagram that offered lucrative stock market investment opportunities. She was subsequently added to WhatsApp groups that falsely claimed to represent Ventura Securities. On these groups, fake analysts and mentors persuaded her to invest through a forged trading application called "VenSec Pro."

Police stated that the fake application displayed fabricated trading activity and virtual profits exceeding ₹1.14 crore to convince the victim that her investments were generating substantial returns. To gain her confidence, the fraudsters initially allowed her to withdraw ₹4,500.

Following this initial withdrawal, the fraudsters persuaded her to invest repeatedly in purported OTC trades, upper-circuit stocks, block deals, and IPO subscriptions. When the victim later attempted to withdraw her investments, the fraudsters demanded additional payments for commissions, taxes, and processing charges. After receiving the additional money, the fraudsters blocked her trading account and disappeared, leaving her with a total loss of ₹61.39 lakh.

Out of the 13 individuals arrested by the Cyberabad Police during this period, eight were linked to trading fraud cases, two to a visa fraud case, and one each to cryptocurrency fraud, child sexual abuse material, and job fraud. The police also obtained court orders for the refund of ₹76.09 lakh to victims across 36 cybercrime cases.

The Cyberabad Police advised the public to verify whether investment platforms are registered with the Securities and Exchange Board of India (SEBI) before investing. They warned citizens to avoid downloading trading applications through links shared on social media or messaging platforms, and to remain cautious of WhatsApp or Telegram groups promising guaranteed returns or insider trading tips.