Faridabad cyber police have arrested an account holder in connection with a Rs 73.97 lakh cyber fraud case in which a resident was allegedly duped with promises of heavy returns through stock market investments.
The accused has been identified as Hansraj Goyal, a resident of Ludhiana in Punjab, who was arrested from the Transport Nagar area. Police said the arrest was made by the Central cyber police station on Saturday as part of the investigation into the online investment fraud.
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Link Sent on WhatsApp Led Victim Into Trap
According to police spokesperson Yashpal, the victim, a resident of Sector 86, had filed a complaint stating that he received a link on WhatsApp. After clicking on it, he was added to a group where fraudsters allegedly lured him with promises of high profits from investments in stocks and pre IPO offers.
Police said the victim was persuaded to transfer money into different bank accounts after being told that the investments would generate substantial returns. The complaint stated that he eventually transferred Rs 73,97,600. However, the promised profit never came and the money was not returned, prompting the victim to approach the police.
Probe Traced Funds to Firm Account
During the investigation, police found that the accused Hansraj Goyal had a firm in the name of Janata Trans Co. Fraudsters allegedly used the bank account of this firm for routing part of the cheated amount.
Police said about Rs 7 lakh linked to the fraud had come into the account of the firm. Investigators also found that the accused was connected to the transport business. The findings helped police identify the account holder’s role in the money trail and led to his arrest from Faridabad.
Accused Produced in Court, Remand Granted
Police said the accused was produced before a court and taken on three day remand for further questioning. The investigation is continuing to determine the wider network involved in the fraud and the movement of the remaining funds.
The case adds to a growing series of cyber fraud complaints in which victims are targeted through messaging platforms and drawn into fake investment groups with promises of quick gains from stocks and pre IPO opportunities.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
