Cyber Fraud Uncovered: Student Arrested in Stock Investment Scam

A cyber fraud syndicate under investigation defrauded individuals through fake stock investments. Aniruddh Pratap Singh, a 24-year-old student, was arrested for his involvement in facilitating illegal financial routes. The scam involved fake investment tips and shell companies to deceive victims. Investigators are pursuing additional perpetrators and funds.

A significant cyber fraud syndicate claiming to offer high returns through fake stock investments has been dismantled with the arrest of a 24-year-old student, authorities revealed on Monday.

Aniruddh Pratap Singh was apprehended in Gurugram on March 19, suspected of operating shell companies and managing bank accounts linked to the defrauding operation. Victims, like Munish Chandra, who was swindled out of Rs 6.83 lakh, were lured via social media groups with fabricated stock advisories and false investment promises.

Investigation findings indicate Singh, a company secretary student, had established a shell company and maneuvered funds through it. Police have connected 18 complaints to the syndicate and are working to identify additional collaborators and recover remaining funds.

(With inputs from agencies.)