This story is from September 10, 2018

Indore youth held for duping accountant

An Indore youth was arrested on Sunday for posing as a stock market investor and allegedly duping people by asking them to invest in stocks through his firm.
Indore youth held for duping accountant
Representative image
RAIPUR: An Indore youth was arrested on Sunday for posing as a stock market investor and allegedly duping people by asking them to invest in stocks through his firm.
The incident came to light when a Raipur resident, Amit Agrawal, who works as an accountant, filed a complaint with Ganj police station against accused Ashutosh Trivedi. The complainant told police that he was looking to investing in an initial public offering (IPO) of a firm, and found the accused's company through online search.
The complainant purchased the shares of the particular IPO and transferred Rs1.63 lakh for the same to the accused. Within 15 days of the investment, the price of the share rose and the complainant decided to sell his shares. He contacted the accused, who asked for two-three days to do the needful. After a few days, the complainant again contacted the accused, but he did not pick up his calls. This continued for another couple of days, and soon the accused switched off all his numbers. Suspecting fraud, the complainant approached the police.
Raipur police registered a case under section 420 of IPC and arrested the accused from his home in Indore.
Senior superintendent of police (SSP) Raipur said that Trivedi who hails from Indore runs his firm M/s Devchandra Financial in Vijay Nagar locality of the city. He used to lure people from across the country to invest in stocks through his firm. Once he received the amount, he would end all contact with them.
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