Noida: Rs 35 crore investment fraud gang busted, four held
Noida Police's Cyber Crime team has busted a gang that cheated people across India of more than ₹35 crore by luring them into stock-market investments. Four accused from Badaun were arrested after a victim reported a Rs 12-crore fraud. A case was registered under BNS and the IT Act, and multiple bank accounts were frozen. Interrogation revealed that the gang created fake firms using GST and Udyam certificates of locals and used their current accounts for large-scale cyber fraud.
New Delhi: The Cyber Crime Team of Noida Police has busted a major gang involved in defrauding people by luring them with investment opportunities in the stock market. This gang has so far cheated people across the country of more than Rs 35 crore. The police have arrested four accused linked to this gang, all of whom are residents of Badaun.
How was the scam uncovered?
Based on a complaint filed by the victim on December 5, 2025, the Noida Cyber Crime Police Station took action and arrested four accused identified as Arjun Singh, Pankaj Gupta, Rupendra Pal and Tejpal. The victim had been cheated of Rs 12 crore.
On December 3, a case (No. 137/2025) was registered under various sections of the Bharatiya Nyaya Sanhita (BNS) and the IT Act. The police immediately froze the suspicious bank accounts into which the money had been transferred.
Shocking revelations
During questioning, the accused revealed that Rupendra and Tejpal would get GST and Udyam certificates made for local people and open fake firms in their names and current bank accounts of these firms were then opened and used for fraudulent transactions.