Archive · 22 May 2025
Bhiwandi Man Arrested in Share Trading Cyber Fraud
Someone pretended to be from a stock trading company and tricked a woman into investing money.
They showed her fake profits to make her believe she was earning.
They convinced her to deposit money into different bank accounts, promising high returns.
When she tried to withdraw her money, they asked her to pay a tax.
She realized it was a scam.
The police caught a man who helped the scammers by letting them use his bank account, and now they're trying to find the others involved.
A 42-year-old man from Bhiwandi was arrested for allowing his bank account to be used in a share trading scam.
Cyber fraudsters impersonated representatives of a share trading company.
A woman was defrauded of Rs 20 lakh through a fake share trading scheme.
The victim was shown fake profits on a counterfeit app and asked to pay a withdrawal tax.
Police seized a mobile phone, SIM card, and memory card from the accused.
- Who
- Nilesh Maruti Satpute and other cyber fraudsters.
- What
- A share trading scam where fraudsters impersonated officials and defrauded a woman.
- When
- October 2024 to January 2025; Arrest made recently.
- Where
- Mumbai; Bhiwandi.
- Why
- To deceive people into investing and steal their money.
- Fraud Amount
- Rs 20 lakh
- Accused's Residence
- Bhiwandi
- Scam Period
- October 2024 to January 2025
- Accused
- Nilesh Maruti Satpute
- Scam Type
- Fake Share Trading