Man held from Bihar for cheating Navi Mumbai resident of Rs 15 crore in share trading scam

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Police have arrested a 30-year-old man from Khagaria town in Bihar for cheating a Navi Mumbai resident to the tune of more than Rs 14.88 crore in a share trading cyber fraud, an official said on Friday.

The Navi Mumbai police's Cyber Cell tracked down and nabbed the accused, identified as Sujitkumar Madankumar Singh, who has connections in Cambodia where he worked at call centres and duped Indian citizens in scams, he said.

Senior inspector Gajanan Kadam of the Cyber Police station said an FIR was registered under relevant provisions of the new criminal code BNS and the IT Act on a complaint of the victim.

According to the complainant, between January and August 2024, he was cheated of Rs 14,88,91,665 in an online share trading scam.

Fraudsters lured the Navi Mumbai resident after assuring him of lucrative returns in investment in share trading, the police said.

Police worked on several leads, including technical and intelligence inputs, and zeroed in on the accused who was from Bihar. A police team rushed to the northern state and arrested him from Khagaria town, Kadam said.

During interrogation in police custody, it was revealed that between June 2023 and January 2024 and again February 2024 to June 2024, Singh was in Cambodia, where he worked in call centres and cheated Indians in cyber frauds, he informed.

He used to purchase SIM cards in India and supply them to his associates in Cambodia. Singh was a member in several Telegram groups and was connected to people from the Southeast Asian nation, said the inspector.

Primary probe revealed he was in contact with other associates in India as well, the official said.

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