📷 Image: Wikimedia Commons / Harvib
Crime
13 Cyber Fraudsters Arrested in Indore for Fake Stock Trading Scam
✍️ Amar Ujala · Indore
🗓 08 Sep 2026, 05:33 PM
👁 28
Joint action by Uttar Pradesh and Indore police led to the arrest of 13 suspects who ran a bogus trading app that duped investors nationwide.
Indore police, in coordination with Uttar Pradesh law‑enforcement agencies, conducted a raid in the Vijay Nagar neighbourhood on Saturday, resulting in the detention of 13 individuals suspected of cyber fraud. The operation was part of a larger investigation into online investment scams that have been reported across several states.
According to officials, the accused operated a fraudulent mobile application that masqueraded as a legitimate stock‑trading platform. The app promised unusually high returns on share market transactions, luring investors from different parts of the country into depositing money with the expectation of quick profits.
Investigators say the scheme was purely a confidence‑trick; no actual trading took place and the funds collected from victims were siphoned off by the perpetrators. The 13 arrested persons are being questioned for their roles in the deception and are likely to face charges under the Information Technology Act and sections of the Indian Penal Code dealing with cheating and criminal breach of trust.
Authorities have urged the public to exercise caution while using online trading applications, advising verification of the platform’s regulatory approvals before investing. The case underscores the growing challenge of cyber‑based financial frauds targeting retail investors in India.
According to officials, the accused operated a fraudulent mobile application that masqueraded as a legitimate stock‑trading platform. The app promised unusually high returns on share market transactions, luring investors from different parts of the country into depositing money with the expectation of quick profits.
Investigators say the scheme was purely a confidence‑trick; no actual trading took place and the funds collected from victims were siphoned off by the perpetrators. The 13 arrested persons are being questioned for their roles in the deception and are likely to face charges under the Information Technology Act and sections of the Indian Penal Code dealing with cheating and criminal breach of trust.
Authorities have urged the public to exercise caution while using online trading applications, advising verification of the platform’s regulatory approvals before investing. The case underscores the growing challenge of cyber‑based financial frauds targeting retail investors in India.