Delhi Police Uncover Major Investment Scam, Two Arrested for ₹1.6 Lakh Fraud
Investment scam busted in Delhi; 2 held for ₹1.6-lakh fraud
Hindustan Times
Image: Hindustan Times
Delhi Police have arrested two individuals, Gurinder Sharma from Chandigarh and Pradeep Kumar Doobe, in connection with an investment scam that defrauded a local resident of ₹1.60 lakh. The investigation revealed a broader cyber fraud network involving approximately ₹68 lakh across multiple states.
- 01Two individuals arrested in connection with a ₹1.6 lakh investment scam.
- 02The scam involved a fictitious stock market scheme linked to 'Elara Capital Investment Company'.
- 03The fraud network is suspected to have defrauded victims across multiple states, totaling around ₹68 lakh.
- 04Accused used social media to lure victims into investing in bogus schemes.
- 05Police recovered two mobile phones and three bank passbooks from the suspects.
Advertisement
In-Article Ad
Delhi Police have arrested Gurinder Sharma, a resident of Chandigarh, and Pradeep Kumar Doobe, an employee at a petrol pump in Chandigarh, for their involvement in an investment scam that defrauded a local resident of ₹1.60 lakh (approximately $1,950 USD). The victim was lured into investing in a fictitious stock market scheme named 'Elara Capital Investment Company' via social media. After transferring the amount in eight transactions, the victim realized he had been cheated. Investigators traced the funds, revealing that the scam was part of a larger cyber fraud network with an estimated total fraud amount of ₹68 lakh (approximately $8,200 USD) across various states, including Himachal Pradesh, Andhra Pradesh, Punjab, and Maharashtra. The accused allegedly used mule bank accounts and merchant platforms to conceal the origin of the funds. Police recovered two mobile phones and three bank passbooks from the suspects, who are believed to have been motivated by financial gains from commissions for facilitating the fraudulent transactions.
Advertisement
In-Article Ad
This scam highlights the growing threat of cyber fraud, particularly through social media, affecting individuals' financial security.
Advertisement
In-Article Ad
Reader Poll
How concerned are you about online investment scams?
Connecting to poll...
Read the original article
Visit the source for the complete story.


