Solan: ₹6.67 Crore Investment Scam Busted; Three Arrested for Crypto & Stock Market Fraud
Accused youth including police team
Solan, May 23:
In a significant breakthrough against cybercrime, Baddi Police in Himachal Pradesh have uncovered a ₹6.67 crore scam involving fraudulent investment schemes in stock trading and cryptocurrency. As part of their ongoing Cyber Cleanliness Campaign, the police arrested three individuals—Amrit Pal, Firoz Khan, and Jaspreet Singh—linked to a well-organized interstate fraud ring.
According to the FIR registered at Nalagarh Police Station, the accused lured victims across 13 states by promising high returns through investments in share trading and cryptocurrency (USDT). The investigation revealed that the trio had opened 23 bank accounts across various banks to launder and transfer funds obtained through deceit.
Amrit Pal alone operated nine bank accounts with transactions amounting to approximately ₹40 lakh. Firoz Khan’s eight accounts recorded the highest activity, with about ₹4 crore in movement. Jaspreet Singh managed four accounts, through which around ₹28 lakh was routed. Police have since frozen all 23 accounts and also blocked five mobile numbers and three mobile phone IMEI numbers used in the operation.
Baddi SP Vinod Dhiman confirmed that initial findings suggest the accused were part of a larger cyber fraud network targeting individuals nationwide under the guise of investment opportunities. The case was triggered by complaints filed through the Government of India’s National Cybercrime Reporting Portal (NCRP) and the 1930 cybercrime helpline.
Authorities are now actively pursuing other members of the racket and conducting an in-depth investigation to trace the full extent of the network. SP Dhiman urged the public to remain cautious when approached with online investment offers and to promptly report any suspicious activity to the police.
“This is a wake-up call for people to verify all financial propositions before investing,” said Dhiman. “The fight against cyber fraud is a shared responsibility, and public vigilance is key.”
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