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3mo ago

Delhi Police Recover ₹4.74 Crore, Detain CA in Share Trading Scam; Mumbai Octogenarian Duped of ₹1.19 Crore

Law enforcement agencies are intensifying efforts to dismantle sophisticated fraud networks with focus on high-net-worth investors, including elderly savers targeted through fake trading apps, social media pitches

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The accused, identified as Mukesh Garg, was nabbed from his residence in Kaushambi, Ghaziabad. (Representational image)

Overview

  • The Delhi Police traced and froze ₹4.74 crore that Mukesh Garg, posing as a chartered accountant and director of a Noida firm, obtained from sub-broker Ashima Nayyar via seven RTGS and NEFT transfers.
  • Officers collaborated with the Indian Cyber Crime Coordination Centre and multiple banks to intercept the multi-layered transfers, leading to Garg’s detention in Ghaziabad.
  • The case was reassigned to the Intelligence Fusion and Strategic Operations unit to probe the sophisticated financial nature of the fraud and prepare for legal proceedings.
  • In Mumbai, an 83-year-old investor lost ₹1.19 crore between May 2 and 28 after joining a WhatsApp group from a social media ad and investing via a virtual trading account.
  • Cybercrime units at both city and national levels are ramping up investigations into fake investment schemes that exploit digital platforms and target both financially savvy professionals and vulnerable seniors.