Noida: The Cyber Crime wing of the Uttar Pradesh Police have claimed to bust a pan-India “currency trading” fraud involving fake Demat accounts after the arrest of a suspect in Madhya Pradesh.
The police said that the prime accused arrested from MP’s Dewas had been involved in duping Rs 15 crore from people with 500 accounts being opened by them.
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The accused has been identified as Shoib Mansoori (24), the Uttar Pradesh Cyber Police said in a statement.
The police said that the accused is a key member of a gang that has cheated people of crores of rupees by opening Demat accounts in the name of currency trading.
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Mansoori opened the accounts after getting his partners to call up potential targets but this was a scam.