India, Sept. 20 -- The Delhi Police has arrested two men for allegedly facilitating a multi-crore stock market fraud by providing their bank accounts to organised cyber syndicates. The accused were identified as Kulwant Singh and Devender Singh, police said. They were found to have provided their bank accounts for laundering fraud money routed through bogus investment schemes, police said.
According to the police, the syndicate lured investors with promises of IPO funding and high-return stock market opportunities. "Unsuspecting victims were induced to transfer money into bank accounts controlled by the fraudsters. Nearly '6 crore was siphoned off using this modus operandi," Deputy Commissioner of Police (Crime Branch) Aditya Gautam in a s...