Cyber con held for cheating man of Rs 1cr in Noida

Noida: A 54-year-old man was arrested for allegedly cheating a Noida resident of Rs 1 crore on the pretext of stock trading. The fraud happened between April and Aug 2024, while a case was reported at the cybercrime police station on April 7 this year.

The accused is identified as Rajendra Sharma, a resident of Ranipur in Haridwar, police said.

A senior police officer said the victim, a resident of Sector 77, alleged that on April 23, 2024, he received a WhatsApp message from an unidentified number.

The suspects lured him into trading in the stock market with promises of huge profits.

"The fraudster claimed that his firm was the parent company of a US multinational investment bank and cheated the victim of Rs 1 crore. When he insisted on meeting him in person, he was asked to come to Mumbai. He later learned from the American MNC that no such associated company ever existed," police said.