<p>The Vanrai police in Mumbai have arrested a mobile technician in connection with a share trading fraud case, the <a href="https://www.mid-day.com/mumbai/mumbai-news/article/diwali-2024-mumbai-police-bans-flying-and-sale-of-sky-lanterns-in-city-check-details-23415778" target="_blank" rel="none noopener"><strong>police</strong></a> said on Tuesday.</p>
<p>The suspect identified as Uday Jha is accused of allegedly providing a bank account to a fraudster in exchange for a month&rsquo;s supply of ration, an official said.</p>
<p>According to the police sources, the complainant, a freelance Gym trainer residing in Goregaon, fell victim to the scam after encountering an Instagram video last year. While watching the video, a webpage promoting "free stock market trading" appeared, prompting him to click on the link. This action led him to a WhatsApp group where discussions about share trading were taking place. Believing the information shared in the group, he was instructed to download an app and recharge it with Rs 20,000. After the initial recharge, he was asked to purchase shares worth Rs 20,000, with the promise of a 5&#37 return on his investment.</p>
<p>The scam escalated as he was encouraged to invest further in an IPO. However, by January, messages from the group admin stopped, and group members began to decrease. Sensing something was wrong; the trainer reached out to the admin but received no response. Soon after, the app itself became inaccessible, making it clear that he had been defrauded of Rs 7 lakh.&nbsp;The victim promptly reported the scam via the cyber helpline and filed a complaint at Vanrai police station.</p>
<p>"Under the guidance of DCP Smita Patil Zone XII, Senior Inspector Rampyare Rajbhar, a team led by PSI Rao Saheb Waghmode and Sheikh began the <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/baba-siddique-murder-case-zeeshan-siddique-again-visits-mumbai-police-commissioners-office-23415736" target="_blank" rel="none noopener"><strong>investigation</strong></a>. The investigation revealed that out &amp; lakh Rs 40 thousand of the complaint was transferred to the accused account. Further investigation revealed more than 2 crore rupees transaction was done in the accused account.</p>
<p>Jha was arrested from New Mumbai and when the cops inquired about the transaction amount in his bank account Jha told the cops that one of his acquaintances told him that he had worked in Film City whose payment is due as he did not have a bank account asked Jha for his account and promised to give him ration for a month in return. Jha gave him the bank account and other documents which the man gave to Fraudulent&nbsp;said an officer from Vanrai police station.</p>
<p>Jha is misleading the police, how is it possible that a huge amount of money transaction is happening in his account and Jha is not aware of it, The police suspect that Jha is also involved in the fraud.&nbsp;Jha was arrested and we produced him before the court&nbsp;<span id="OBJ_PREFIX_DWT1191_com_zimbra_date" class="Object" role="link"><span id="OBJ_PREFIX_DWT1193_com_zimbra_date" class="Object" role="link">today</span></span> and remanded police custody the search of other fraudulent is underway," he added.</p><p>
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The Vanrai police in Mumbai have arrested a mobile technician in connection with a share trading fraud case, the police said on Tuesday

Mumbai Police arrests mobile technician in share trading fraud of Rs 7 lakh

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The suspect is accused of allegedly providing a bank account to a fraudster in exchange for a month’s supply of ration, an official said

Mobile technician held in share trading fraud of Rs 7 lakh

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