Man arrested for duping Panchkula trader of Rs 1.5-cr in investment fraud

The police have arrested an accused for allegedly duping a city resident of Rs. 1.5 crore in an investment fraud. According to information, Somesh Mittal, a 43-year-old resident of Sector 21, had on October 10, 2024, lodged a complaint at the Cyber Crime police station.

The complainant, who runs a cloth business in Zirakpur, told the police he came in contact with the accused in November 2023. He was lured with the promise of high profits through stock trading via Telegram. He was sent a link to download an application. After installing it, he was duped of approximately Rs 1.5 crore over multiple transactions between November 2023 and March 2024.

When he suspected fraud and attempted to contact the operators, their phones were found to be switched off.

Deputy Commissioner of Police (DCP, Crime) Manpreet Singh Sudan said several raids were conducted in connection with the case over the past year, but the accused repeatedly evaded arrest. A special team was constituted under Cyber Crime station house officer (SHO) Yudhveer Singh.

The team not only gathered technical evidence linked to the fraud but also acted swiftly during raids. As a result, on September 4, 2025, the accused, identified as Rajesh Kumar, a resident of Etah district, Uttar Pradesh, was arrested. He has been presented in court and placed on five-day police remand.

During interrogation, it came to light that more people were involved in the cyber fraud. Based on the accused’s disclosures, searches are being conducted across various districts of Uttar Pradesh to trace the other suspects.

The DCP Crime added that more arrests are likely to follow soon.

Chandigarh