Man involved in online investment fraud over Rs 38 lakh arrested by Delhi police

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Delhi Police have arrested a 27-year-old man, a resident of Gujarat, for allegedly deceiving a man out of more than Rs 38 lakh under the guise of online investing in the stock market. The police also recovered an IDFC First Bank check book, two mobile phones, 4 passbooks and 3 debit cards in the possession of the accused.

Moreover, the police froze the defrauded amount of Rs 18,12,395 in the first bank of IDFC.

ONLINE INVESTMENT FRAUD

The matter came to light when a man approached the Dwarka cyber police station alleging that he had obtained funds in the form of retirement benefits when he retired from the Department of Education. It was in August that he received a call from an unknown person, urging him to invest a certain sum in the stock market, further assuring him of a huge profit from the investment.

Believing him, the victim fell prey to the scam and invested a total amount of Rs 38,20,000 in less than a month (August 21 to September 6).

In no time, the entire amount was transferred to IDFC First Bank, which belonged to the accused through IMPS and RTGS transactions.

Realizing that he had been duped, the victim then approached the police to file a complaint against the accused.

ACCUSED ARRESTED

On the basis of the complaint lodged by the victim, an investigation was opened on this subject. After a detailed investigation, analyzing bank account details and account statements, the police obtained a cell phone number which was used in banking transactions.

Subsequently, a raid was carried out and the accused, identified as Zala Sanjay Kumar Gandaji, was arrested in Sunsar village of Patan district in Gujarat.

During his interrogation, the defendant revealed that he used to call people at random, asking them to invest in the stock market. It was on August 20, 2021, that he got in touch with the victim and lured the victim to invest a total sum of Rs 38,20,000.

The accused then transferred Rs 18,00,000 to his other bank account, Mehshana Cooperative Bank. However, the police managed to freeze Rs 18,12,395 which the accused was unable to withdraw.

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