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Mumbai Crime: Five men held in Rs 3.5 crore stock scam

Five suspects including two ex-staff of trading firm held for gaining backdoor entry into client data using company’s app to make rogue trades

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The shares were allegedly illegally sold between May 25 and June 8

The shares were allegedly illegally sold between May 25 and June 8

Cyber cops have arrested five men for allegedly stealing client data of a share trading firm and selling shares worth Rs 3.58 crore. The suspects, including two former employees of the Malad-based company, impersonated the firm’s staff and persuaded three customers to share OTPs required for selling shares. The cyber cell of the north region is on the lookout for three more people, including one in the UK. 

The shares were allegedly illegally sold between May 25 and June 8. The five, one of whom was picked from Gujarat, used the money to buy shares of another company. 

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