Gurugram Police arrests two in stock investment fraud

Gurugram, Jun 4 (PTI) Police have arrested two people for allegedly duping people under the pretext of higher returns in stock trading, officials said on Wednesday.
     The accused were identified as Ayush Kumar and Vivek Pathak, police said.
     According to the police, a complaint was received at cyber-crime police station Manesar regarding people being duped of lakhs under the pretext of providing higher profits from investments in the stock market through WhatsApp groups.
     Based on the complaint, an FIR was registered and the accused were arrested from Agra in Uttar Pradesh on Tuesday, police said.
     "During interrogation, the accused revealed that out of the defrauded amount, Rs 25 lakh was transferred to the Vivek Pathak's bank account. Pathak had sold this account to his accomplice Ayush, who paid a two per cent commission to Pathak," ACP Cyber Priyanshu Dewan said.
     "Ayush, a former manager of a private bank further sold this account to someone else and received a four per cent commission," the ACP said.
     Further investigation is underway, he added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)