Panchkula police arrest second accused in Rs 18.79 lakh online trading scam

The Panchkula Cyber Crime Police have arrested a second accused in connection with a Rs 18.79 lakh cyber fraud case involving a bogus online trading platform. The accused, Nitish Kumar alias Johnny, a resident of Jaspal Colony, Ludhiana, was produced in court today and sent to judicial custody at Central Jail, Ambala.

The case, which began with a fraudulent advertisement on Facebook promoting online trading, led to the financial exploitation of Jagmender Singh, a resident of Sector 12A, Panchkula. Lured by promises of high returns and fake SEBI certificates, the victim was persuaded to download a counterfeit “Kotak QIB” app, join WhatsApp groups and transfer large sums under the guise of investment in IPOs and trading.

The fraudsters manipulated the victim into repeated payments by threatening penalties and legal consequences when he attempted to withdraw funds.

Following a complaint filed on June 19, the police registered a case under multiple sections of the Bharatiya Nyaya Sanhita (BNS). Nitish Kumar was arrested on July 2 and remanded to police custody for three days. During questioning, the police revealed that he was involved in procuring and supplying bank accounts for the syndicate’s use in cyber fraud.

Earlier, on June 21, another accused, Vijay Kumar, a resident of Sonipat district and currently living at Kot village, Panchkula, was arrested. The police froze around Rs 1.37 lakh from two of his bank accounts during remand. Vijay had provided his account to receive the defrauded money in return for commission.

ASI Ravindra Kumar, the investigating officer, has played a pivotal role in identifying and apprehending both accused through diligent efforts. The investigation is ongoing.

DCP Srishti Gupta, who is heading the anti-cybercrime drive, urged citizens to remain cautious. “Cybercriminals today are more skilled and technologically equipped. They exploit fake websites, apps and attractive schemes to deceive the public. I strongly advise verifying the authenticity of any investment opportunity before transferring funds. Promises of high returns are often the first red flag,” she said.

Chandigarh