In Vadodara, Gujarat, authorities have dismantled a fraudulent company allegedly involved in stock market dealings. Officials have apprehended 17 individuals in connection with the scam. The suspects allegedly deceived individuals out of significant sums of money. They operated under the guise of a company called ‘Angel Broking Customer Care’ and enticed victims through a WhatsApp group. One victim, a senior official at a Vadodara company, reportedly lost ₹94.18 lakh in the fraud.
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Following their arrest, all suspects were brought before the court on Thursday and have been remand to police custody for two days.Police said the accused cheat people of lakhs of rupees by creating a fraudulent company named ‘Angel Broking Customer Care’ and forming a WhatsApp group to lure victims.
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Angel One company and sent links explaining the trading process
The police are now identifying the higher-ups involved in the scam, suspecting that more significant figures may be orchestrating these fraudulent activities. According to sources, Ramakrishna Bedundari, originally from Andhra Pradesh and a former top official in Vadodara’s cybercrime division, filed the complaint. The accused allegedly sent WhatsApp messages convincing the victim to trade in the share market under the guise of Angel Security Customer Service.
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They utilized falsified documents from Angel One company and sent links explaining the trading process. An amount of ₹94.18 lakh was transfer from the complainant’s online accounts to various accounts set up by the scammers. Realizing the deceit, the complainant reported the crime to Vadodara’s Cyber Crime Police. The police investigation led to the arrest of 17 individuals involved in the scam.