Man arrested from Chennai in demat account fraud
Pune police cyber unit arrested a man from Chennai in Tamil Nadu in an alleged financial scam of hacking demat accounts of customers
PUNE The cyber unit of Pune police arrested a man from Chennai in Tamil Nadu, in an alleged financial scam of hacking demat accounts of the customers.
The accused has been identified as Vyakateshna Vardhan who was arrested in the last week. He was working with a private broker firm who handled Demat accounts of several customers.
During investigation of a case registered at Pune cyber crime, police found that, accused hacked the Demat account of the complainant and changed email id and mobile number of the complainants by replacing his details.
By taking benefits of changed account details, the accused sold shares in the demat account of the complaint and transferred ₹70 lakh to his personal bank account.
During interrogation of the accused, police found that he had duped another man from Chatrapati Sambhaji Nagar in a similar manner.
A case has been filed at cyber police station under sections of 420, 419 of the Indian Penal Code and relevant sections of the Information Technology Act.
