Is a Cybercriminal Caught in a Rs 98 Lakh Investment Fraud?
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Synopsis
A cybercriminal was arrested in Bhubaneswar for defrauding a victim of Rs 98 lakhs through fraudulent investment schemes. This alarming case shows the growing threat of cybercrime in India. Read on to learn more about how this scam unfolded and the arrest of the accused.
Key Takeaways
- Cybercrime is on the rise with sophisticated methods of deception.
- The importance of verifying investment opportunities cannot be overstated.
- Victims should promptly report scams to the authorities.
- Investors must be cautious of offers that seem too good to be true.
- Increased public awareness can help prevent future scams.
Bhubaneswar, Sep 12 (NationPress) The Commissionerate Police has detained a cybercriminal from Uttar Pradesh for reportedly defrauding an individual of more than Rs 98 lakhs under the guise of investment in shares and securities, according to Jagmohan Meena, the Deputy Commissioner of Police in Bhubaneswar, who announced this on Friday.
The suspect, identified as Mohd Shadab, aged 33, hails from Rahimpur village in the Bijnor district of Uttar Pradesh. During a press conference, DCP Meena revealed that in June of this year, the victim received a WhatsApp link inviting him to join a group titled “X05-IIFL SECURITIES LTD.”
Subsequently, the alleged cyber fraudsters reached out to the victim, pretending to be officials from IIFL Securities Limited and utilizing the company's logo.
They enticed the victim to invest by guaranteeing substantial trading profits through deceptive and biased messaging in the WhatsApp group.
“The victim was misled by the enticing promises of the cyber fraudsters, who assured him of high returns. He transferred a total of Rs 98.10 lakhs into various bank accounts provided by the fraudsters between June 17 and July 1, 2025,” stated sources from the Commissionerate police.
The police further disclosed that the cyber criminals operated through two websites, https://cequityinsightyu.com and https://fintrendhub.com, to execute their crimes. Upon realizing he had been scammed, the victim filed a complaint with the Cyber Crime and Economic Offences Police Station in Bhubaneswar on July 4.
During their inquiry, police uncovered that Rs 30 lakhs had been transferred by the victim to a company named M/S CHAUDHARY CONTRACTOR AND SUPPLIER, situated in the Bijnor region of UP. Consequently, a team from the Commissionerate Police, in collaboration with the Kotwali City Police Station, apprehended Mohd Shadab on Wednesday, as Rs 30 lakhs had been transferred to the bank account of the firm registered under the name of the arrested fraudster.
On Friday, the authorities presented the accused in court after bringing him to Odisha on transit remand, where he was placed in judicial custody.
Point of View
This incident underscores the urgent need for enhanced cybersecurity measures and public awareness. The rise in cybercrime presents a significant threat to individuals and businesses alike. It is paramount for authorities to not only apprehend these offenders but also educate the public to safeguard against such fraudulent schemes.
NationPress
12/09/2025
Frequently Asked Questions
What was the method used by the cybercriminal?
The cybercriminal used a WhatsApp group impersonating officials from IIFL Securities to lure the victim into making substantial investments.
How much money was defrauded in this case?
The total amount defrauded from the victim was over Rs 98 lakhs.
Where was the cybercriminal arrested?
The cybercriminal was arrested in Bhubaneswar, Odisha.
What steps can individuals take to avoid such scams?
Individuals should verify the identity of any investment entity, be cautious of unsolicited offers, and report suspicious activities to authorities.
What are the websites used in this fraud?
The fraudsters operated through two websites: cequityinsightyu.com and fintrendhub.com.
