UP STF Cracks Rs 70 Crore ‘Share Trading’ Scam: Two Key Gang Members Arrested in Ghazipur

In a major development, the Uttar Pradesh Special Task Force (STF) arrested two key members of a gang involved in defrauding people of nearly Rs 70 crore. The accused were operating under the banner of ‘Share Trading,’ luring people into making hefty investments with promises of high returns. The operation, which targeted unsuspecting individuals across the state, had been running for an extended period before the law enforcement agencies cracked down on the fraudulent activities.

The arrests were made in Ghazipur district at Bheemnagar police station, where the STF, acting on a tip-off, successfully apprehended two individuals identified as Faizan Kumar and Jitendra Singh. Both individuals were associated with the gang responsible for executing the large-scale scam. The gang members would attract victims by promising lucrative returns on investments in a non-existent trading company.

According to the police, the scam initially surfaced when a series of complaints from victims indicated that they had been misled by the fraudulent promises of ‘Share Trading.’ The STF promptly launched an investigation, coordinating with local police stations to gather evidence and plan the arrest. STF teams were instructed to gather intelligence, leading to the arrest under the supervision of senior police officers.

Upon interrogation, the arrested individuals revealed that they had been running similar scams in other parts of Uttar Pradesh, including Noida and Ghaziabad. They had previously established fraudulent companies with different names to avoid detection. The gang’s operations were sophisticated, with investments being funneled through mobile applications, further complicating the tracking process.

STF officials have emphasized that this is a significant breakthrough in tackling financial crimes in the region. The investigation is ongoing, with further arrests expected as more gang members are identified. Meanwhile, victims are being encouraged to come forward and report their losses.

The arrested individuals face charges under multiple sections of the Indian Penal Code, including fraud and conspiracy, and they remain in custody while further investigations continue. The STF, in collaboration with local police, is determined to recover as much of the defrauded amount as possible and bring all culprits to justice.

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