‘Binary trading’: Delhi cyber cell busts investment fraud

NEW DELHI: The Cyber Cell of Delhi Police busted an investment fraud module, which was using Instagram to lure innocent people on the pretext of providing very high returns in a short period in a ‘binary trading’ scheme. Three people, including a woman and a teenager, were apprehended.

According to DCP (Cyber Cell) KPS Malhotra, the scammers were using videos of social media celebrities and influencers to increase reach and attract gullible investors to put their hard-earned money in a scheme named ‘profit mania’.

The racket was being operated from Chhabra, Rajasthan and Devendra Choudhary (44) was the key suspect. His wife was also found involved, cops said.