Delhi Police Arrest Two in Rs 22.7 Lakh Fake Stock App Scam

Delhi Police have cracked a cyber fraud syndicate operating through a fake stock trading application, arresting two men from Haryana for allegedly duping a woman of Rs 22.7 lakh. The investigation began after a complaint lodged by Dr. Amita Garg on November 13.

According to police, the victim was added to a messaging app group called 'Stan Chart Dialogue Forum L7', where administrators, posing as financial advisors, promoted D-mat share investments. One of the admins, Yalini Guna, persuaded her to invest through a mobile app and provided a download link.

The victim initially invested Rs 2.7 lakh through multiple transactions. Although the app displayed apparent profits, she was pressured to invest additional amounts when attempting to withdraw her money. In total, she transferred Rs 22.7 lakh before being blocked from the app.

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An e-FIR was registered under Sections 318(4) (cheating) and 340 (forged document or electronic record used as genuine) of the Bharatiya Nyaya Sanhita. Using the NCRP portal and call detail records, police traced the transactions to a bank account in Hisar, identifying two suspects: Sameer (22) and Dev Singh (22).

Raids conducted on November 10 in Hisar led to the arrest of both men. During interrogation, Sameer admitted to opening multiple bank accounts and handing them to Dev Singh for Rs 4,000 per account. Police seized two mobile phones and three SIM cards from the accused, who were subsequently sent to judicial custody.

Authorities said the syndicate followed a standard modus operandi: contacting victims on social media, showing fake profits, and coercing larger investments. Investigations are ongoing to identify additional members of the racket and recover the remaining misappropriated funds.

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