Two men were arrested for allegedly facilitating a multi-crore stock market scam by providing their bank accounts to interstate cybercriminals, an official said on Friday.

The accused, Mohammad Asim Ali Khan from Uttarakhand and Rushikesh Jaywant Kamble from Maharashtra, acted as "professional account providers" for organised cybercrime networks that duped investors through fake IPO funding and high-return stock market investment schemes, he said.

According to the police, victims were lured via social media groups into downloading fake trading applications and then persuaded to transfer large sums of money.