Daijiworld Media Network - Kolkata
Kolkata, Jan 29: The Kolkata Police have arrested a man from West Bengal’s South 24 Parganas district in connection with a massive cyber fraud that allegedly duped a city resident of Rs 3.35 crore by promising lucrative stock market returns.
The accused, Hasan Molla, was taken into custody following an investigation by the Cyber Crime branch, police officials confirmed on Thursday.
According to investigators, the victim, Ashish Kumar Ghora (56), a resident of Entally in central Kolkata, was allegedly drawn into a WhatsApp group that projected itself as a legitimate investment advisory platform. The group promised exceptionally high returns within a short span, persuading Ghora to transfer large sums of money to multiple bank accounts as directed by its administrators.
Police sources said the WhatsApp group contained several members and regularly shared stock market tips, creating an illusion of credibility and active trading. Trusting the assurances, the victim reportedly transferred around Rs 3.35 crore over time.
Trouble began when Ghora attempted to withdraw his funds and found himself unable to do so. Realising he had been cheated, he approached the Cyber Crime branch of the Kolkata Police and lodged a formal complaint.
During the probe, investigators discovered that the accused allegedly used forged identities and fake logos of regulatory bodies such as the Securities and Exchange Board of India (SEBI) and the US Securities and Exchange Commission (SEC) to make the scheme appear authentic. Fake documents were also allegedly circulated to win the victim’s confidence.
A preliminary investigation revealed that Rs 22.5 lac from the defrauded amount was transferred to a bank account registered under the name MS Masud Construction.
Hasan Molla was arrested from the Bishnupur area of South 24 Parganas on Wednesday. Police believe he diverted the funds received through fraudulent means, though the full money trail is still being traced.
Investigators are now examining whether the accused was acting alone or as part of a larger cyber fraud network, and further arrests have not been ruled out.