The police team seized 24 mobile phones used in the cyber fraud, a list of mobile numbers used for scamming, a share market handbook, and a notebook with chat scripts used to trap victims, said an officer from North Cyber. It appeared the operation was targeting individuals across India
Whenever the complainant tried to withdraw his earnings, he was told to invest more. REPRESENTATION PIC/ISTOCK
The North Cyber police have busted a gang of cybercriminals involved in duping citizens by luring them into fake stock market investment schemes. Five individuals have been arrested from Rajasthan.
The 50-year-old male complainant was contacted via WhatsApp between December 2024 and February 2025 by a woman identifying herself as Priya Patel, claiming she is an employee of ‘RK Group’. “She claimed to be a SEBI-registered broker and promised huge returns on stock market investments. The accused shared a web link under the guise of opening a Demat account and collected sensitive information, including Aadhaar and PAN card details, bank account details, and mobile number,” said an officer.
The link redirected the complainant to a fake trading platform named JIO GLOBEX LTD, displaying bogus tabs like ‘Chart’, ‘Trade’, ‘Deals’, and ‘Profit’ — all designed to simulate a real trading experience. The victim was tricked into transferring funds to multiple bank accounts under the guise of stock purchases, with the cybercriminals eventually defrauding him of Rs 22.4 lakh.
When the complainant attempted to withdraw the so-called returns, he was repeatedly asked to pay additional amounts, citing various excuses. Subsequently, an FIR was registered in February under Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), and 61(2) of BNS along with Sections 66(a) and 66(d) of the Information Technology Act, 2008 (Amended).
Under the guidance of DCP Purshottam Karad, ACP Rajendra Shirtode, North Cyber Police Inspector (in-charge) Sudhakar Humbe, PI Kiran Ahere, and API Sanjay Pawar, along with the North Cyber police team, began the investigation. Technical analysis of the WhatsApp number and its ISP data revealed that the operation was being run from Jodhpur, Rajasthan. Based on this, a police team conducted raids and detained five suspects, identified as, Munawar Hussain Yusufbhai Sindhi, 30, Vipul Kumar Kantibhai Ode, 20, Rashid Mithubhai Sindhi, 28, Naveen Rameshbhai Ode, 20, and Mukeshbhai Gautambhai Ode, 28.
The police team seized 24 mobile phones used in the cyber fraud, a list of mobile numbers used for scamming, a share market handbook, and a notebook with chat scripts used to trap victims, said an officer from North Cyber. It appeared the operation was targeting individuals across India.
All five accused were produced in court and have been remanded to police custody for further investigation. “We appeal to citizens to remain cautious and not fall prey to such online investment scams. If approached by any unknown individual on WhatsApp or social media promising unrealistic returns, citizens are urged to report the matter immediately.
Reporting cybercrimes
Cyber Helpline
1930
Websites
www.cybercrime.gov.in
www.sancharsaathi.gov.in
(Sanchar Saathi portal)
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