Who was arrested in Bengal for a Rs 3.35 crore stock market fraud?
Synopsis
In a shocking development, a man was arrested in West Bengal's South 24 Parganas district for allegedly orchestrating a massive Rs 3.35 crore stock market fraud through a deceitful WhatsApp group. Authorities are investigating his connections to a potentially larger syndicate behind the scam.
Key Takeaways
A man was arrested for a major stock market fraud.
Victim lost Rs 3.35 crore through a WhatsApp group.
Fraudulent identities were used to deceive the victim.
Investigation may reveal a larger syndicate behind the scam.
Public awareness is crucial to prevent such frauds.
Kolkata, Jan 29 (NationPress) A man has been apprehended by the police in the South 24 Parganas district of West Bengal for his alleged participation in a cyber fraud case that resulted in a resident being swindled out of Rs 3.35 crore under the guise of lucrative stock market investments, as reported by authorities on Thursday.
The suspect, identified as Hasan Molla, was detained following an extensive inquiry conducted by the Cyber Crime branch.
According to the police, the victim, Ashish Kumar Ghora, 56, from Entally in central Kolkata, was drawn into a WhatsApp group allegedly managed by the accused, which promised significant returns in a short time frame. Following the group's advice, Ghora transferred nearly Rs 3.35 crore to various bank accounts.
“Hasan initially included the victim in a WhatsApp group that consisted of several other participants. The group purportedly assured high returns within a short period through stock market investments and frequently provided recommendations for profitable investments,” police sources stated.
When Ghora attempted to withdraw his funds and was unsuccessful, he realized that he had been deceived.
The victim subsequently reported the incident to the Cyber Crime branch of the Kolkata Police and lodged a formal complaint.
Law enforcement revealed that the accused had utilized forged names and logos of the Securities and Exchange Board of India and the US Securities and Exchange Commission to lend an air of legitimacy to the scheme.
“Fraudulent documents were also reportedly employed to build trust with the victim,” added the sources.
A preliminary investigation showed that of the total Rs 3.35 crore, Rs 22.5 lakh was transferred to a bank account registered under the name of MS Masud Construction.
Hasan Molla was arrested in the Bishnupur area of South 24 Parganas on Wednesday after the complaint was lodged by Ghora.
As per police sources, Hasan allegedly misappropriated the funds received from the victim through deceitful means.
Investigators are currently examining whether a larger syndicate is involved in this fraudulent scheme.
Point of View
This incident highlights the growing issue of cyber fraud in India, where unsuspecting individuals are increasingly targeted by sophisticated scams. It underscores the importance of public vigilance and the need for enhanced regulatory measures to protect investors in the financial market.
NationPress
5 Jul 2026
Frequently Asked Questions
What happened in the Rs 3.35 crore fraud case?
A man was arrested for allegedly duping a resident of Rs 3.35 crore through a fraudulent stock market investment scheme operated via a WhatsApp group.
Who is the victim of the fraud?
The victim is Ashish Kumar Ghora, a 56-year-old resident of Entally in central Kolkata.
What methods did the fraudster use?
The accused used forged documents and falsely represented himself using the names and logos of legitimate financial institutions to gain the victim's trust.
Is there a possibility of a larger scam?
Yes, investigators are currently probing whether this fraud is part of a larger syndicate.
What actions did the victim take after realizing the fraud?
The victim filed a formal complaint with the Cyber Crime branch of the Kolkata Police.
