The Colaba police late last week arrested two persons, including a Nepali national, for their alleged involvement in a cyber fraud perpetrated on the pretext of higher returns through stock investment. The duo – Chandra Shekhar, an Uttar Pradesh resident and Dilip Kumar Chai, a native of Nepal – was intercepted at the Indo-Nepal border with the help of the Uttar Pradesh police.
Modus Operandi Of the Duo To Commit Cyber Fraud
As per the Colaba police’s cyber detection team, the duo targeted several Indians in the last two years and 72 complaints have been lodged in the matter so far. The police also found over Rs4.5 crore in the account of Shekhar. The police said many investors still haven’t come forward with their complaints. The mastermind of the fraud, though, is believed to be a Chinese national. Even members of several teams deployed to telephone customers are yet to be arrested.
Shekhar and Chai added unsuspecting investors to a WhatsApp group ‘(057) momentum stock camp’, where they were told about the benefits of investing in stocks and share trading. The group members were sent a link to download the ‘Retail Home’ app to earn money quickly with dummy shares displayed on the app. The complainants realised they had been cheated after the accused stopped communicating with them after receiving the money.
The Nepali Mastermind Linked With Chinese National
Officials added that Chai was in touch with the Chinese national, and the details of the Indian corporate accounts, including login IDs, passwords, debit cards, cheque books and SIM cards were shared with him. He allegedly sold all these details to the Chinese and made anywhere between Rs1 lakh and Rs3 lakh, giving Shekhar a share for identifying more people to open accounts.
Meanwhile, Shekhar and Chai have been remanded to police custody till April 16 and booked under relevant sections of the Indian Penal Code and the Information Technology Act.
