Neemuch (Madhya Pradesh): Manasa police arrested seven people for deceiving people under the guise of online investment in stock trading.
Police also recovered from the scene two Axis bank check books, 19 keypad cell phones, 9 Android cell phones, an ATM card and four bank account passbooks.
According to the details, the matter came to light when a local resident alerted to an online investment fraud was running around tirelessly near Carmel Convent School located at Jeewan Nagar in Manasa Village.
Following which, Superintendent of Police (SP Neemuch) Suraj Kumar Verma, was ordered to take strict action against fraudsters. On Wednesday, police raided said racket found involved in investment fraud and apprehended 7 fraudsters.
During interrogation, the defendants revealed that they used to randomly call people except in MP, Rajasthan and Delhi asking them to invest in the stock market on the pretext of excess returns. Further investigation revealed that more than Rs 50 lakh was credited to the account.
Police said the arrested defendants were identified as Shantilal Banjara (20), Banti Rawal Banjara (19), Prabhat Mal (19), Lokesh Banjara (20), Vikram Singh Banjara (19), Bharat Singh Banjara (20), residents of Bhanpura village and Pappu Dayma (24), a resident of Manasa village in Neemuch district.
A case has been filed against them under Section 420 (34) of the Indian Penal Code. Further investigation into the matter was ongoing, police added.
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Posted: Thursday May 12th 2022, 4:10 PM IST