Jharkhand man held for stock market fraud

The accused person was produced in a court here on Monday.

Published: 16th March 2021 07:56 AM  |   Last Updated: 16th March 2021 07:56 AM   |  A+A-

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Representational Image. (File Photo)

By Express News Service

HYDERABAD: The marketing intelligence team of Hyderabad cyber crimes have arrested a man named Shivam Shantanu Singh, a resident of Bokaro Steel City in Jharkhand, for cheating a person to the tune of Rs 20 lakh by promising the latter to invest the money in UK stocks. The accused person was produced in a court here on Monday.

According to police, they received a complaint from a person belonging to Tilaknagar, wherein he stated that a man who identified himself as Narendra Kumar cheated him of Rs 20 lakh by offering to trade the money in UK securities on his behalf. The accused promised him that there would be a return of 15 per cent every month and asked the complainant to transfer the money into an account.Based on the complaint a case was registered.


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