Rewari Cyber Police have arrested another accused in an online trading fraud case in which a businessman was allegedly cheated of ₹28.54 lakh after being shown fake profits and repeatedly asked to deposit more money before withdrawals could be processed.
The latest accused has been identified as Rithik Kumar alias Chhotu, a resident of Adarsh Nagar Tika Nihang in Himachal Pradesh’s Kangra district.
Police allege that Rithik acted as an intermediary who helped make another accused’s bank account available to the cyber fraud network.
Four people had already been arrested in the case.
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Internet Advertisement Promised High Returns
According to police, Rewari businessman Yogesh Goyal of Nai Abadi came across an advertisement in August promoting large profits through online trading.
After contacting the numbers given in the advertisement, he was allegedly told that investments made through the platform would generate high interest and bonuses.
The operators also allegedly assured him that the platform was safe and free from fraud.
A digital wallet was subsequently created for him.
On August 17, Goyal allegedly deposited ₹10 lakh into the wallet.
₹4 Lakh ‘Profit’ Shown After First Deposit
After the first payment, the platform allegedly showed that Goyal had earned a profit of ₹4 lakh.
His displayed wallet balance therefore rose to ₹14 lakh.
Such artificial profits are often used in fake trading scams to convince victims that the investment is genuine and encourage them to deposit larger amounts.
In this case, the displayed return allegedly persuaded the businessman to continue with the scheme.
Another ₹10 Lakh Demanded Before Withdrawal
When Goyal attempted to withdraw the amount shown in the wallet, he was allegedly told that he would first have to deposit another ₹10 lakh.
He transferred that amount.
After the payment, the fraudsters allegedly told him that his bonus and profits had increased and that his investment was now worth around ₹30 lakh.
But he still could not withdraw the money.
Instead, another payment was demanded.
₹8.54 Lakh Demanded in Name of GST
Police said the operators next demanded ₹8,54,430, allegedly including GST, before the funds could be released.
Goyal transferred that money as well.
When he again attempted to withdraw the amount shown on the platform, he was allegedly told to deposit even more.
That was when he realised he may have been cheated.
By then, he had transferred a total of ₹28,54,430 into accounts provided by the alleged fraudsters.
Police Trace ₹18.54 Lakh to Two Accounts
The investigation later focused on the bank accounts that received the money.
Police said ₹10 lakh of the defrauded amount reached an account linked to an accused identified as Liaqat.
Another ₹8,54,430 allegedly went into an account belonging to Jafar Khan.
Investigators are examining where the money moved after reaching those accounts and who ultimately benefited from the transfers.
Rithik Allegedly Helped Provide Bank Account
The latest arrest came after police examined how Jafar Khan’s account allegedly became available to the cyber fraud network.
According to investigators, Rithik Kumar alias Chhotu acted as an intermediary who helped provide the account to the fraudsters.
Police arrested him from Himachal Pradesh’s Kangra district.
His alleged role highlights a common feature of organised cyber fraud: the people who communicate with victims are often different from those who arrange or provide bank accounts used to receive the money.
The allegations against Rithik have not been proved in court.
Why Bank Accounts Matter in Trading Scams
Fake trading scams often rely on several bank accounts to receive and move money.
Some may belong to people directly involved in the fraud, while others may be supplied to the network by intermediaries for a commission.
Police generally trace beneficiary accounts, KYC records and subsequent transfers to identify these financial links.
That money trail can eventually lead investigators to people who may never have communicated directly with the victim.
Similar fake trading cases in Haryana have involved fabricated platforms, layered bank accounts and displayed profits that could not actually be withdrawn.
Fake Profit Dashboards Remain a Major Warning Sign
The Rewari case follows a pattern increasingly seen in investment frauds.
A victim sees an online advertisement or is contacted through social media.
After an initial investment, a website or app displays unusually large profits.
The victim is then told that further payments are needed for tax, GST, margin money, account activation or release of funds.
The displayed balance may look genuine, but it can simply be a number controlled by the fraudster.
No legitimate trading platform should require repeated transfers to unrelated bank accounts simply to unlock money that already belongs to an investor.
Investigation Continues Into Wider Network
Police are now examining the full chain of bank accounts and intermediaries allegedly used in the fraud.
They are also looking into the platform shown to the businessman and the identities of people who operated it.
The four people arrested earlier remain part of the wider investigation.
Further arrests could follow if police identify additional people involved in arranging accounts, receiving funds or operating the alleged trading setup.
What this means for you
If an online trading platform shows large profits but demands fresh deposits before allowing withdrawals, treat it as a serious warning sign. Do not pay so-called GST, release fees or bonuses into unfamiliar bank accounts without independently verifying the platform and broker.
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