Two men from Rajasthan were arrested for stock trading fraud.

pretended to be reputable brokers and investment advisers in order to defraud stock investors out of over Rs 66 lakh.
Two people have been arrested by the UT police’s Cybercrime Cell for defrauding stock investors out of over Rs 66 lakh by pretending to be brokers and investment advisers.
Lalit Saini, 23, of Sanganer, Jaipur, and Mukesh Kumar Gujar, 33, of Rampura Papat, Jaipur, were named as the suspects. In different cases, they were taken into custody. The teams that apprehended them in Rajasthan were led by Sub Inspectors Yashpal Singh and Jaskirandeep Kaur.

Mukesh was arrested in a case that was filed in response to a complaint made by Ashok Kumar, a resident of Sector 35. Ashok had received a call from a woman claiming to be Rekha Aggarwal, who had lured him in with the prospect of huge profits from online trading on the IBKR (Interactive Broker) platform. After contacting Rajiv Mehta, a “client manager,” the victim was sent a malicious link that downloaded a fake trading app onto his phone. He began trading under fictitious instructions, but he was banned from the app and the communication group after attempting to withdraw money. By then, he had already been defrauded of Rs 56 lakh.

In another instance, Vinod Handa, a resident of Sector 49-A, was defrauded of Rs 10.5 lakh using Lalit’s bank account. A Facebook ad promoting the Zerodha-VIP.com WhatsApp group caught Vinod’s attention. He made several money transfers after being seduced by the group members’ repeated assurances and apparent initial returns. Under false pretenses, the scammers demanded more deposits before cutting off all contact when he asked to withdraw his money.