Indore: Two More Arrested In ₹3.08 Crore Share Trading Fraud; Seven In Custody, 112 Bank Accounts Blocked

Indore (Madhya Pradesh): Two more people have been arrested in connection with duping a doctor of Rs 3.08 crore on the pretext of providing good returns in share trading, police said on Sunday. So far, seven accused have been arrested in the case and are on police remand. The police have also blocked about 112 bank accounts.

DCP (crime) Rajesh Kumar Tripathi said to the Free Press that the complainant doctor was allegedly contacted by a woman who promised him good returns on investment in shares through her company. Trusting her, the doctor registered his profile on the website. 

He invested there and initially, made a profit twice. Later, the woman allegedly told him to invest a bigger amount so he invested more than Rs 1 crore. He ended up putting in Rs 3.08 crore in 64 transactions but didn’t make a profit or even receive his money. He lodged a complaint when his son said he was perhaps duped by online scammers. Earlier, Anand Pahadiya of Dwarkapuri, Mohit Bhawsar of Aerodrome area, and Mohammad Rehan, Shahrukh Qureshi, and Ejaz Khan, all from Ujjain, were arrested by the Crime Branch.

They had allegedly provided a bank account to the gang. The investigation led to the arrest of Kuldeep Pagare of Rajnagar and Aman Namdev of the Aerodrome area as well. Pagare allegedly confessed that he, along with Bhawsar, had provided the bank account details of Pahadiya to Namdev on a commission of 10%. Namdev is an engineer and works as a realtor in the city.