Did the Cyber Cell Uncover a ₹1.6 Crore Stock Market Investment Scam?
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Synopsis
A major breakthrough for the Cyber Cell as they apprehend key suspects behind a massive ₹1.6 crore stock market fraud. This case sheds light on the dangers of online investing and the schemes targeting unsuspecting victims across India.
Key Takeaways
- Cyber Cell takes decisive action against financial fraud.
- Key suspects arrested, including the mastermind.
- Fraudulent schemes targeted victims across India.
- Awareness of online investment scams is crucial.
- Ongoing investigations aim to uncover the full extent of the syndicate.
New Delhi, Nov 24 (NationPress) In a remarkable advancement in the fight against cyber-financial crimes, the Cyber Cell of the Crime Branch, Delhi Police apprehended several key suspects and dismantled a nationwide stock market investment scam valued at ₹1.6 crore, as stated by officials.
The main suspect has been identified as Sunil Kumar, the Director of a fraudulent company called GTR Electronics Pvt. Ltd. In a related case, a husband and wife duo managing another deceptive organization, 'Udyam Women Empowerment Foundation', were taken into custody from Thane, Maharashtra.
Investigators connected 13 complaints from the National Cybercrime Reporting Portal (NCRP) to GTR Electronics, totaling ₹88,40,700, while 45 additional complaints were linked to Udyam Women Empowerment Foundation, amounting to ₹22,00,700.
The arrests were made after the Delhi Police revealed a complex stock market investment fraud that operated through misleading pre-IPO offers, enticing high-return investment schemes, and fake foreign exchange trading websites. Victims from all over India were targeted via social media, where they were misled into transferring funds into bank accounts tied to these fraudulent companies.
The investigation commenced when a victim reported a loss of ₹1.6 crore to the Cyber Cell. He was drawn in by a woman on social media to invest in a supposed legitimate UK-based trading platform, Spreadex Global Ltd., which ultimately turned out to be a scam.
A thorough financial investigation uncovered ₹15,00,000 traced to GTR Electronics Pvt. Ltd. and another ₹11,00,000 linked to the Udyam Women Empowerment Foundation. The couple from Thane, Vishal Choure and his spouse, were managing these accounts to receive and distribute the proceeds from their cybercriminal activities.
According to police, a sham office for GTR Electronics was set up in Shakarpur, East Delhi, using forged documents. This office was established solely to lend credibility to the fake business and to obscure the illegal funds.
The Cyber Branch executed coordinated raids in Ballabgarh and Thane, leading to the arrest of Sunil Kumar, along with Vishal Choure and his wife, who co-managed the fraudulent bank accounts used for collecting the swindled money.
During questioning, Sunil Kumar disclosed that he had registered GTR Electronics Pvt. Ltd. with accomplices and leased the Shakarpur office to present the company as a genuine electronics firm. He confessed that all company documentation and credentials were handed over to his associates, who oversaw the fraudulent transactions.
The operation was conducted by a team led by Inspector Manjeet Kumar, which included Sub-Inspector Parvesh Kumar, ASI Kanwarpal, and Head Constables Vipin, Manish, and Vinod, all under the supervision of ACP Anil Sharma. Officials indicated that the team diligently examined digital footprints and financial documentation to solve the case.
Further investigations are ongoing to identify and apprehend other members of the syndicate and to trace the complete financial route utilized for moving the defrauded funds.
Point of View
I recognize the critical need for vigilance in the digital age. The Cyber Cell's swift action against this fraudulent network is commendable and emphasizes the importance of reporting suspicious activities. We stand firm in our commitment to informing the public about cybercrime, ensuring that our readers remain aware and protected.
NationPress
25/11/2025
Frequently Asked Questions
What is the total amount involved in the stock market fraud?
The total amount involved in the stock market investment fraud is ₹1.6 crore.
Who is the main accused in this case?
The main accused is Sunil Kumar, Director of the fraudulent company GTR Electronics Pvt. Ltd.
How were victims targeted in this fraud?
Victims were lured through social media, enticing them to invest in fake trading platforms.
What actions have been taken by the police?
The Cyber Cell arrested key suspects and dismantled the fraudulent operation, while further investigations are ongoing.
What are the ongoing investigations focused on?
Investigations are focusing on identifying other members of the syndicate and tracing the financial routes of the defrauded funds.
