Fake Online Trading Syndicate Busted: 4 Arrested in Kolkata, Lucknow; Rs 300 Cr Fraud Unearthed
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News18•24-01-2026, 20:30
Fake Online Trading Syndicate Busted: 4 Arrested in Kolkata, Lucknow; Rs 300 Cr Fraud Unearthed
- •Delhi Police busted a fake online trading racket with alleged links to Cambodia-based operators, unearthing a fraud of over Rs 300 crore.
- •Four key accused, Biswajit Mondal, Ashish Aggarwal, Rajib Shah, and Shubham Sharma, were apprehended from Kolkata and Lucknow.
- •The syndicate lured victims with promises of high returns through fake trading apps and messaging groups like Ventura Securities, Go Market Global, and IPO Stock Trading.
- •Fraudsters used rigged trading dashboards, initially crediting small returns to gain trust, then demanded fees for withdrawals, leading victims to lose money.
- •The network operated using mule bank accounts, shell companies, and auto-sharing OTPs for seamless fund diversion, with links to cryptocurrency transactions in Cambodia.
Why It Matters: Delhi Police dismantled a Rs 300 crore fake online trading scam, arresting four and exposing international links.
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