Cyber Crime Bust: Bogus IPO App Scam in Gurugram

Gurugram Cyber Police have apprehended two men connected with a scam involving a fake mobile application used to defraud people by promising IPO investments. The suspects, arrested in Delhi, are charged with transferring and selling bank accounts linked to the defrauded money.

Gurugram Cyber Police have made significant headway against cyber crimes by arresting two individuals accused of deceiving people with a fraudulent mobile application. This app lured victims into investing in IPOs, a ploy that has reportedly siphoned funds directly from targeted bank accounts.

The accused, identified as Sharad Kant Mishra and Yatin Kumar, were apprehended in Delhi following an investigation triggered by a local complaint. The complainant alleged that a scammer manipulated him into investing in company IPOs via the illicit app, resulting in a financial loss.

Police investigations revealed that a portion of the defrauded money was funneled into a firm's bank account, which was later sold for a nominal sum. Ongoing interrogations aim to uncover more about the perpetrators' operations and any additional individuals involved.

(With inputs from agencies.)