3 more arrested in Rs 161cr stock trading fraud

Panchkula: The cybercrime police station team of Panchkula arrested three more individuals in connection with the Rs 1.61 crore fraud case conducted under the guise of stock market investments. With these arrests, the total number of accused held in the case now stands at five.

The arrests were led by the police station in-charge SI Yudhveer Singh. The team acted based on strong digital evidence, including bank account details, WhatsApp chats, and other electronic traces.

According to the police, the case was registered following a complaint by Ajay Gill, a resident of Panchkula, who runs an academy. On April 1, he received a link via Facebook that led him to a WhatsApp group.

The group members lured him with promises of high returns on stock market investments. Over time, he and his wife were defrauded of a total of Rs 1.61 crore. Their Aadhaar details were also misused during the process.

The first arrest in the case was made in Jan 2025 when police apprehended Kushdeep, a resident of Lakhimpur Kheri, Uttar Pradesh. Police recovered Rs 90,000 and a mobile phone used in the crime during his remand. He was later sent to judicial custody.

In May 2025, police arrested Rajat Gupta, an associate of Kushdeep. Now, on July 10, the cybercrime team arrested three more accused: Sumit and Manjeet, both from Sisrana village in Sonipat district, and Pradeep from Thanakalan, Sonipat.

After interrogation, Sumit and Manjeet were sent to judicial custody, while Pradeep was remanded to police custody for three days.