Bank Employee Among 2 Arrested For Rs 48.5 Lakh Cyber Fraud In Noida: Cops

The Uttar Pradesh Police cybercrime unit has arrested two people involved in running a fraudulent scheme that duped a victim of Rs 48.5 lakh under the pretence of share market trading, officials said on Wednesday.

They said Rishabh Mishra and Dheeraj Porwal were arrested near an under-construction flyover in Aghapur in Noida Sector-41.

On April 16, the victim complained to the cybercrime police station in Sector 36, alleging a loss of Rs 48.5 lakh in a share trading scam and an FIR was registered on charges of cheating, forgery and criminal conspiracy, a police spokesperson said.

"On June 19, the cybercrime police identified and arrested Rishabh Mishra, a private bank employee accused of opening accounts for fake firms, and Dheeraj Porwal, who posed as a business owner," the official said.

On the modus operandi of the accused, the spokesperson said they created a fake trading platform to defraud people and transferred illicit funds into accounts opened under the names of fictitious firms.

Porwal, claiming to be a trader, rented a shop in New Ashok Nagar, Delhi, under the name Porwal Traders. Using this address, they prepared banners and stamps for various bogus firms and opened bank accounts in their names, into which lakhs of rupees from fraudulent activities were transferred, the official said.

Police said they have seized a mobile phone used in the crime and froze Rs 3.25 lakh across various bank accounts linked to the fraudulent activities.

The FIR was lodged under IPC sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document) and 120B (criminal conspiracy), and sections 66 and 66D of the IT Act (related to computer-related offences and cheating by impersonation using computer resources), police added.

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