India News | Delhi: Rs 4.74 Crore Recovered from Man Who Duped Woman in Share Trading Fraud
Get latest articles and stories on India at LatestLY. The Delhi Police have recovered Rs 4.74 crore from a man who allegedly duped a woman on the pretext of high returns through share trading, an official said on Friday.
New Delhi, Jun 20 (PTI) The Delhi Police have recovered Rs 4.74 crore from a man who allegedly duped a woman on the pretext of high returns through share trading, an official said on Friday.
The complainant, Ashima Nayyar who is a sub-broker and director of a private company, approached the Cyber Police Station of Southeast on June 19, alleging that she had been defrauded by a man who posed as a chartered accountant, the police said in a statement.
According to the police, Mukesh Garg introduced himself as a CA and claimed to run a private company.
"He convinced Nayyar to trade shares through him and promised handsome returns. Trusting his claims, the complainant transferred Rs 4.75 crore to the bank account in seven separate transactions via RTGS and NEFT," the police officer said.
After receiving the funds, Garg allegedly stopped responding to Nayyar's messages and calls, and refused to return the money. Sensing fraud, she moved to the police and lodged a complaint.
"Given the high value involved, the team immediately contacted nodal officers of the concerned banks to trace and freeze the funds,” the statement read.
“Despite the money being transferred across multiple bank accounts -- up to four layers deep -- the team managed to hold back Rs 4.74 crore with the help of the I4C (Indian Cyber Crime Coordination Centre) and inter-bank coordination," it said.
A case was registered and further investigation was taken up. Subsequently, Garg was located and detained for questioning, the police said, adding that further investigation has been transferred to the Intelligence Fusion and Strategic Operations (IFSO) unit due to the financial magnitude of the case.
They said further efforts are underway to gather complete evidence and initiate appropriate legal proceedings against the accused.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)