Kolkata, Jan 29 (IANS) The police arrested a man from South 24 Parganas district of West Bengal for his alleged involvement in a cyber fraud case where a resident was duped of Rs 3.35 crore under the pretext of high-yield stock market investments, the police said on Thursday.

The accused, identified as Hasan Molla, was apprehended from the South 24 Parganas district following a detailed investigation by the Cyber Crime branch.

The police said that the victim, Ashish Kumar Ghora, 56, a resident of Entally in central Kolkata, was lured into a WhatsApp group allegedly operated by the accused, promising substantial profits in a short duration. Following instructions provided within the group, Ghora transferred approximately Rs 3.35 crore to multiple bank accounts.

“Hasan first added the victim to a WhatsApp group that had several other members. The group allegedly promised high returns in a short time through stock market investments and regularly shared advice on where to invest for substantial profits,” police sources said.

When Ghora later tried to withdraw the money and failed, he realised that he had been cheated.

The victim then approached the Cyber Crime branch of the Kolkata Police and filed a formal complaint.

Police sources said the accused used forged names and logos of the Securities and Exchange Board of India and the US Securities and Exchange Commission to make the operation appear genuine.

“Fake documents were also allegedly used to gain the victim’s confidence,” the sources said.

A preliminary police investigation revealed that of the total Rs 3.35 crore, Rs 22.5 lakh was transferred to a bank account in the name of MS Masud Construction.

Hasan Molla was arrested from the Bishnupur area of South 24 Parganas on Wednesday after a complaint by Ghora.

According to police sources, Hasan allegedly diverted the money that he received from the victim through fraudulent means.

Investigators are now probing whether a larger syndicate is involved in the fraud.

–IANS

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