A 22-year-old man was arrested on Monday in connection with a ₹5.5 crore cyberfraud case in which a resident of Old Faridabad was allegedly duped through a fake stock market investment scheme, police said, adding that this makes the 12th arrest in the case.
The suspect, identified as Mohit (single name), a resident of Chittorgarh in Rajasthan, allegedly sold a bank account that was used in the fraud, they added.
A senior official at the Faridabad Central cyber police station said 11 suspects had already been arrested in the case. “Based on a complaint submitted by the victim, he was first contacted by cyberfraudsters through a private message called ‘B16 Trust Line Investor Network and Trust Line VIP 1073’ in September last year, where he was lured into making substantial profits by investing in the stock market,” the official said, requesting anonymity.
Officials said the fraudsters asked the victim to download an app called “TL FIN” and transfer money to multiple accounts for investment. “As soon as the complainant transferred money to the accounts and sent the transaction IDs to the fraudsters, the amount, along with the profit, would appear in his app account. Thus, the complainant invested a total of ₹5,562,1548,” said Yashpal Yadav, public relations officer of Faridabad police.
Yadav said the victim realised he had been defrauded when the platform and private message went offline overnight after he tried to withdraw his invested amount. “An FIR under Section 318(4) (provisions of cheating) under the Bharatiya Nyaya Sanhita was subsequently lodged and eleven arrests were thereafter made between October 2025 and January 2026,” Yadav said.
During interrogation, Mohit allegedly told police he was an account holder in the case. “He had provided the account details of his firm, ‘Sanwariya Traders’, to the fraudsters, who later transferred ₹50 lakh to his account,” Yadav said, adding that the suspect has been placed under five-day police remand for further questioning. Police said efforts are being made to recover the defrauded money.