Faridabad Police Arrest Account Holder in Stock Investment Fraud

Faridabad cyber police have arrested a man from Ludhiana in Punjab in connection with a large-scale online investment fraud case involving alleged losses of nearly ₹73.97 lakh. The accused is suspected of facilitating the movement of fraudulent funds collected through fake stock market investment schemes operated via social media platforms.

Authorities say the arrest is part of an ongoing investigation into a wider cyber fraud network that targeted victims with promises of high returns through stock trading and pre-IPO investment opportunities.

Victim Lured Through WhatsApp Investment Group

According to police officials, the victim—a resident of Sector 86 in Faridabad—was first contacted through a WhatsApp message containing a link to an investment group. After joining the group, the victim was repeatedly persuaded by fraudsters to invest in stock market schemes promising unusually high profits.

Investigators said the scammers presented themselves as investment advisors and encouraged the victim to transfer money in multiple installments to different bank accounts.

Over time, the victim transferred a total of ₹73,97,600, but no returns were ever provided. When withdrawal attempts failed and communication stopped, the victim reported the matter to cyber police.

Investigation Traces Funds to Firm Account in Ludhiana

During the financial investigation, police traced part of the defrauded money to a business account linked to a transport firm named Janata Trans Co. in Ludhiana.

Authorities identified the account holder as Hansraj Goyal, who was arrested from the Transport Nagar area in Ludhiana. Police said approximately ₹7 lakh from the fraudulent proceeds had been routed through the firm’s bank account.

Investigators believe the account was used as a “mule account” to channel scam proceeds, a common tactic in online financial fraud cases where multiple accounts are used to obscure money trails.

Arrest and Custody for Further Investigation

Following his arrest, the accused was produced before a local court and has been remanded to police custody for further interrogation.

Cyber police officials stated that questioning will focus on identifying:

• Other individuals involved in the fraud network
• Additional bank accounts used to route stolen funds
• Possible links to larger interstate cybercrime operations

Authorities are also working to trace the remaining diverted funds and determine how they were distributed across multiple accounts.

Growing Trend of Online Investment Scams

Officials noted that the case reflects a rising pattern of cyber frauds across India involving fake investment schemes promoted through messaging apps and social media platforms.

In such scams, victims are typically added to WhatsApp or Telegram groups where fraudsters:

• Pose as financial advisors or trading experts
• Promote stock trading or pre-IPO investment opportunities
• Display fake profit screenshots to build trust
• Pressure victims into making repeated deposits

Once significant funds are collected, the scammers either disappear or block access to withdrawal channels.

Conclusion

The Faridabad case highlights the increasing use of digital platforms in financial fraud and the role of intermediary bank accounts in laundering illicit funds. As investigations continue, cyber police are expected to uncover additional links within the wider network responsible for orchestrating the scam.

Authorities have once again urged citizens to exercise caution when responding to unsolicited investment offers received through social media or messaging apps.