Bhubaneswar: The Odisha Crime Branch Cyber Cell has arrested a cyber fraudster from West Delhi for allegedly duping investors of over Rs 2.06 crore through a fake Nifty and share market investment scam on WhatsApp.
The accused, Vinay Kumar Sharma, 56, of Janak Puri, West Delhi, was apprehended during a raid by a special cyber team and brought to Odisha on transit remand.
According to police, Sharma and his associates targeted influential individuals by adding their numbers to unknown WhatsApp groups. Posing as stock market experts and financial analysts, they shared fake investment tips and NIFTY index analysis to gain trust. To lure victims, group members would post fabricated messages claiming huge returns on investments. The gang promised high profits through IPOs, shares, and OTC trading