Delhi Woman Held for Defrauding Executive of ₹87 Lakh
Image Source: The Economic Times
Bhubaneswar: The cyber wing of the state Crime Branch on Thursday arrested a 49-year-old Delhi woman, Vandana Bawa, for allegedly scamming a company executive out of ₹87 lakh through fraudulent online stock trading schemes. Bawa, a private tutor residing in South Delhi, was apprehended after an investigation revealed her involvement in an elaborate investment fraud.
The victim, a senior manager at a Bhubaneswar-based company, came across a social media advertisement six months ago promising high returns on stock trading. After contacting the provided number, he was persuaded to invest in a fraudulent trading platform and was added to a WhatsApp group led by a scammer posing as a professor.
Investigators found that the fraudsters initially suggested stock investments that yielded small profits in the victim’s demat account to build trust. They later encouraged him to invest larger amounts through their platform, providing specific bank account details for fund transfers. Using fake IPO subscriptions, they manipulated the victim into believing he was earning high returns.
“At first, the victim received the promised returns, which convinced him to invest more. However, after a few months, the payments stopped, and when he inquired, he was asked to invest more to recover his funds. He ultimately transferred around ₹87 lakh before realising he had been duped,” a senior Crime Branch officer stated.
A team led by Additional Superintendent of Police Ritesh Kumar Mohapatra collected digital evidence against Bawa, analysing bank records and call details. Authorities confirmed that substantial funds had been transferred to her account. The Crime Branch is now investigating her accomplices.
Bawa was presented before a Saket court in New Delhi before being brought to Odisha under transit remand. Police seized her mobile phone, two SIM cards, an Aadhaar card, and a PAN card. Officials suspect she was involved in similar fraud cases in Gujarat and Kerala but had never been arrested before.
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