Four arrested by ED for duping investors of crores of rupees in Bengaluru

BENGALURU: Four people have been arrested by the Enforcement Directorate (ED) for cyber fraud in the name of online trading. The arrested accused Shashikumar, Sachin, Kiran and Charan Raj were produced before a special ED court in Bengaluru and taken into custody for seven days.

The accused used to cheat investors in online trading, by investing in fake companies in the stock market, creating fake documents and opening multiple bank accounts. After investors transferred money, they transferred it to different accounts and blocked the numbers of those who deposited the money.

The fraudsters were arrested based on a tip-off by the cybercrime police. They informed ED officials that crores of rupees were being transferred anonymous accounts.

Several complaints have been filed at cybercrime stations in Bengaluru regarding this.