Unmasking the International Cyber Trading Scam

Navi Mumbai police disrupted a cyber fraud network tied to China and Cambodia, arresting seven people involved in swindling investors. They froze 118 bank accounts holding Rs 32.5 lakh. Victims were lured via fake trading profits on social media. Investigations revealed international connections and led to significant arrests.

Navi Mumbai police have successfully dismantled a sophisticated share trading fraud network linked to cybercriminals in China and Cambodia. The operation resulted in the arrest of seven individuals who allegedly duped investors of massive amounts, officials reported.

This breakthrough led to the cyber police freezing 118 bank accounts throughout India, securing Rs 32.5 lakh connected to the fraudulent activities. The fraud was uncovered while investigating a case where a victim was cheated of Rs 1.07 crore.

The perpetrators targeted victims via social media between September 2 and October 8, enticing them with promises of high returns on share market investments. Using a fake app to display inflated profits, they encouraged larger investments, ultimately refusing to return the invested funds as per the police's account.

(With inputs from agencies.)