Rajasthan Police arrest man from UP’s Faizabad in Rs 3.81 crore online trading fraud
Jaipur, Sep 12 (IANS) Acting on the directives of Rajasthan Director General of Police (DGP) Rajiv Kumar Sharma to prevent cybercrimes and take effective action against cybercriminals, the Rajasthan Police Cyber Crime Branch has arrested a man from Faizabad (Ayodhya), Uttar Pradesh, in connection with a multi-crore online trading fraud.
The arrest was made by the Central Cyber Crime Police Station, Jaipur.
The accused has been identified as Alok, a resident of Faizabad (Ayodhya), Uttar Pradesh.
DGP (Cyber Crime) VK Singh said that, according to a complaint filed on October 5, 2025, the complainant had been searching on Google for information related to online trading and investment. During the search, the complainant came across an online trading platform called ‘CMC Forex’ / ‘CMC Global CS’.
The accused allegedly contacted the complainant through Telegram while posing as representatives of the company’s India-based customer care or management team. They lured the complainant with promises of high returns from online trading and induced him to transfer a total of Rs 3,81,37,677 into various bank accounts.
During the investigation, police found that the cyber fraudsters had created a website and fake online trading platform resembling ‘CMC’, a reputed foreign trading company. The accused allegedly claimed to be associated with the company’s India-based customer care and management teams. They continuously provided trading-related instructions to the complainant through Telegram and encouraged him to invest in different companies. Initially, to gain the complainant’s confidence, a portion of the money invested in small amounts was returned.
This convinced the complainant that the platform was genuine and prompted him to invest larger sums. The accused allegedly directed the complainant to deposit money into multiple bank accounts. At the same time, the fake trading account showed steadily increasing profits against the investments. As a result, the complainant was led to believe that profits worth crores of rupees had accumulated in the account. When the complainant attempted to withdraw the money, the cyber fraudsters allegedly demanded additional payments on various pretexts, including income tax, currency exchange fees, security deposits and margin guarantees. Even after each payment, new conditions and charges were allegedly imposed, with the complainant repeatedly pressured to make further deposits. Despite the payments, the crores of rupees displayed in the fake trading account were never actually made available for withdrawal.
During the investigation, police examined bank records and followed the money trail. A beneficiary bank account linked to ‘Shiv Bakers and Fast Food’ was identified.
Police found that Rs 20 lakh of the money allegedly obtained through the fraud had been deposited into this account. Investigators are now tracing the subsequent movement of the money and working to identify other individuals associated with the cyber fraud network. Based on bank records and technical analysis, police identified Alok, a resident of Faizabad (Ayodhya), Uttar Pradesh.
The investigation allegedly established his involvement in connection with the beneficiary bank account used to receive proceeds of the cyber fraud.
According to police, the bank account and financial channels provided by the accused were used to receive the defrauded money and facilitate further transactions.
Alok has been arrested, and further investigation is underway. Police are conducting detailed technical analysis of CDRs, CAFs and IPDRs, along with the money trail from the banking transactions. Investigators are collecting information about the accounts into which the defrauded funds were deposited, the subsequent movement of the money and the identities of other individuals linked to the network.
The operation was conducted by a team constituted under the direction of Shantanu Kumar Singh, Deputy Inspector General of Police (Cyber Crime). The team was led by Gajendra Sharma, Station House Officer (SHO) and Deputy Superintendent of Police (DSP) at the Central Cyber Crime Police Station, Jaipur, Rajasthan. The team included Police Inspector Radheshyam, Constables Manoj Samota and Krishna Yadav, and Constable-Driver Sube Singh.
–IANS
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