In a major breakthrough, the Cyber Crime Police of Gautam Buddh Nagar have arrested two men from Indore, Madhya Pradesh, for allegedly defrauding a Noida resident of ₹3.26 crore on the pretext of high returns through stock market investments.
According to officials, the complainant, a resident of Sector 27, Noida, lodged a report on June 12, 2025, stating that unidentified individuals posing as employees of “Rate Fine Investment Ltd.” had lured him into investing in the share market. The victim transferred ₹3.26 crore to multiple bank accounts believing he would receive substantial profits. Following the complaint, police promptly registered a case and froze the linked bank accounts.
Arrests and Investigation
On October 30, 2025, acting on electronic and local intelligence, the Cyber Crime Police arrested two suspects — Rajeev Verma and Uma Shankar — from Indore. Police recovered ₹10 lakh from Rajeev Verma’s account, which was found to be linked to 16 other complaints across different states on the NCRP portal. Authorities confirmed that 12 other individuals had previously been arrested in connection with the same case.
Accused Confession
During interrogation, Rajeev Verma revealed that he was engaged in mobile marketing but faced financial distress. He opened a current bank account in his name and handed it over to his friend Uma Shankar in exchange for ₹50,000. Uma Shankar admitted that he had been providing bank accounts to a Telegram group that sought such accounts for illicit transactions.
Case Details
The case has been registered under FIR No. 54/2025 with sections 318(4), 319(2), 338, 336(3), 340(2), and 61(2) of the BNS, along with Section 66(D) of the IT Act, at the Cyber Crime Police Station, Gautam Buddh Nagar.
Seizure
Police have recovered two mobile phones used in the crime.
Cyber Awareness Advisory
Authorities have urged citizens to immediately report cyber-related crimes on the national helpline number *1930* or via *[www.cybercrime.gov.in](http://www.cybercrime.gov.in)*. The police have also cautioned the public against sharing Aadhaar, PAN, or bank account details with unknown individuals.
(Source: Media Cell, Police Commissionerate Gautam Buddh Nagar)
