Two Arrested For ₹52L Share Market Investment Scam (SOURCE : FREE PRESS JOURNAL)

Indore (Madhya Pradesh): Two persons of Sehore district have been apprehended by the state cyber cell for cheating a city resident of ₹52.15 lakh on the false promise of investing in the share market. The third accused is still at large, and the police have initiated a search operation to arrest him.
As per instructions of SP (Cyber) Sabyasachi Saraf, the raid was carried out and the accused individuals were arrested by a team led by DSP Narendra Singh Raghuwanshi and Inspector Sarita Singh.

As per the complaint of Shivdatt Tiwari, a resident of Mahalaxmi Nagar, he had been invited to a social networking group by a person whose name is unknown and who had introduced himself as the officer of JAINAM Broking Limited Company. The cheat had presented to him a false certificate of the company being registered with SEBI, thus gaining the confidence of the complainant.

The accused lured Tiwari into investing money in the share market and withdrew ₹52.15 lakh systematically from him in different bank accounts.
Officals confirmed that investigations are continuing to arrest the missing accomplice and to follow the money trail.

Following the arrest of two individuals in a ₹52.15 lakh share market fraud case in Indore, the state cyber cell has also arrested two additional accused in the case of tracking the embezzlement of a bank account in Sehore district.
During the investigation, the officials learned that Shri Parmar Motors and Workshop, Sehore, was one of the bank accounts through which the amount cheated was received. Working on this lead, the team reached Sehore and arrested Devendra Kumar Parmar, the account holder.

The authorities disclosed that Parmar had given his account information, ATM card, registered post ID, and mobile SIM information to his friend Rahul Mewada and Ashta's Jitendra Parmar, who were inspired by the prospect of gaining 1% of transactions being processed through his account. Fake documents were also confiscated during the raid.
According to details shared by Devendra, police arrested Jitendra Parmar, widening the police crackdown on the group behind the bogus trades.