Bhopal (Madhya Pradesh): The cyber cell of Bhopal crime branch has arrested two individuals from Mandsaur district for their role in a cyber fraud amounting to Rs 9.91 lakh, committed on the pretext of stock market investment.
The accused allegedly sold bank accounts to a cyber fraud gang, which used them to siphon off victims’ money from across several states.
According to police, the fraud came to light following a complaint filed on September 4, 2024, by a Misrod resident. Police said that the complainant alleged that he was duped of Rs 9,91,900 after being lured into investing through the M-Stock mobile application, where fraudsters promised unusually high returns on stock market investments.
Following technical surveillance and evidence collection, the crime branch arrested Gulsher Khan (27) and Rajneesh Bareth (19), both residents of Bhavgarh village under Bhavgarh police station limits in Mandsaur district.
Two mobile phones and two SIM cards used in the crime were seized from their possession. Gulsher Khan has a prior criminal record at Bhavgarh police station while Rajneesh Bareth is a student.
Additional DCP Shailendra Singh Chauhan stated that efforts are underway to identify and arrest other associates linked to the cyber fraud network operating in several states.
