Man arrested for ₹2.13 crore stock investment fraud, remanded to police custody

Mohd. Aman Alam (46), arrested on charges of defrauding ₹2.13 crore in the name of stock market investment, was produced before the Bidhannagar Court on Monday by the Bidhannagar Cyber Crime Branch police. The court remanded him to police custody for further investigation into the alleged online trading scam.

The case stems from a complaint filed on February 4 by Bhavataran Ghosh, a resident of Gouranganagar in New Town. In his complaint, he alleged that he was contacted by two individuals, Anya Mehra and Subhash Agarwal, who persuaded him to open a trading account via WhatsApp for stock market investments. He was provided transaction details through the HNW Trading app, including options to buy and sell shares, deposit funds and withdraw money.

According to the complaint, members in a WhatsApp group would post applications to purchase different shares at various times. The victim was allegedly told that his account had been approved by SEBI, which helped build his trust. Between December 17, 2025 and January 27, 2026, he gradually deposited ₹2.13 crore into the SMCH HNW trading account for purchasing stocks before realising he had been cheated.