A major breakthrough by the Delhi Police led to the arrest of four individuals involved in running a fake trading app scam. Among the apprehended are two private bank employees who allegedly played a significant role in enabling the fraud, which has reportedly resulted in losses worth lakhs.
The arrests emerged after a resident of Patel Nagar filed a complaint alleging he was defrauded of Rs 16.70 lakh via a fraudulent trading application. The victim initially invested Rs 10,000 and was tricked into further deposits by fake profit displays. Upon attempting to withdraw his money, he was removed from the communication group associated with the scam.
A detailed police investigation revealed the use of forged documents to establish shell companies and open bank accounts in private banks, facilitating the laundering of illicit funds. The probe is still ongoing, with authorities seeking to uncover additional connections and participants involved in this widespread fraud.
(With inputs from agencies.)
