Noida Cyber Police Nabs Mastermind Behind ₹1 Crore Share Market Scam
Noida, June 22 (Khabridose.com) – In a major breakthrough in the fight against cybercrime, the Cyber Crime Unit of Noida Police has apprehended a key suspect involved in a large-scale financial fraud worth ₹1 crore, carried out under the pretense of lucrative share market investments.
The accused, Rajendra Sharma, a resident of Noida and son of Radharman Sharma, was arrested for orchestrating an elaborate scheme that targeted a local resident from Sector-77. Authorities stated that Sharma lured the victim with promises of high returns through stock market trading, ultimately convincing him to transfer significant sums across several bank accounts.
Additional Deputy Commissioner of Police (Cyber Crime), Manisha Singh, confirmed the arrest and noted that Sharma is believed to be part of a larger interstate cyber fraud ring. “The investigation began following a complaint from the victim, who reported a loss of approximately ₹1 crore. A case was promptly registered, and during the probe, one suspect was apprehended,” she said.
Police successfully froze multiple bank accounts linked to the fraud to prevent further movement of funds. During questioning, Sharma admitted to collaborating with other individuals and disclosed that ₹5.5 lakh of the stolen amount was transferred to one account before being distributed among his associates.
Further inquiry, supported by data from the National Cybercrime Reporting Portal (NCRP), revealed that bank accounts operated by Sharma were linked to at least 13 cyber fraud cases spanning several states, including Haryana, Maharashtra, Delhi, Uttar Pradesh, Rajasthan, and West Bengal.
Law enforcement agencies are now intensifying efforts to identify and arrest the remaining members of the fraud network.
Authorities have issued a public advisory urging citizens to verify financial platforms and investment schemes thoroughly before making transactions.
