<p>The Vanrai <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/akshay-shinde-encounter-state-cid-begins-investigations-reaches-hospital-to-record-statements-23399620" target="_blank" rel="none noopener"><strong>police</strong></a> in Mumbai arrested an accused who was allegedly assisting in a cyber fraud that targeted an elderly man through a share trading scam, an official said.</p>
<p>The accused had provided his bank account to the cyber fraudsters for the transaction of a fraudulent amount, he said.</p>
<p>The complainant, a retired resident of Goregaon, had made substantial investments in shares. In June, he was added to a WhatsApp group that regularly shared information about the stock market, seemingly originating from Delhi. A few days later, the group admin instructed him to download specific software. Trusting the admin, the complainant complied and was later encouraged to buy shares worth Rs 9 lakh, the police said.</p>
<p>Shortly after the purchase, the admin falsely claimed that 27,500 shares had been allotted in the complainant&rsquo;s name and demanded an additional Rs 41 lakh. The admin threatened that if the money was not paid, the complainant&rsquo;s account would be closed. Sensing something was wrong, the complainant approached the company directly, only to find out that the group admin had no affiliation with them, an official said.</p>
<p>Realising he had been scammed, the complainant reported the fraud to Vanrai police, who immediately registered a case. During the investigation, police traced part of the fraudulent amount to Roshan Kule's bank account. It was revealed that Kule had provided his account for <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/exclusive-mumbai-cyber-fraud-cases-up-from-rs-32-cr-to-rs-753-cr-in-2-years-23372615" target="_blank" rel="none noopener"><strong>cyber criminals</strong></a> to use in exchange for a commission.</p>
<p>He has been arrested, and police are now searching for his accomplices, the official added.</p><p>
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The Vanrai police in Mumbai arrested an accused who was allegedly assisting in a cyber fraud that targeted an elderly man through a share trading scam

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The accused had provided his bank account to the cyber fraudsters for the transaction of a fraudulent amount, an official said

Man held for assisting in cyber fraud targeting elderly share investor in Mumbai

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