Indiabulls executive arrested for illegal trading
Kolkata: The vice president of leading share trading firm Indiabulls Securities was arrested Tuesday for allegedly trading illegally by accessing the online trading account of a chartered accountant here.
Deputy Commissioner (Detective Department-1) of city police Jawed Shamim said Siddhartha Daga, 26, had hacked into Arunava Chakraborty`s online trading account with the firm August 6 and shortsold a particular scrip through the day at various price levels.
At the end of the day, the net loss to Chakraborty`s account was Rs.4.6 million.
"He had traded illegally. Due to him, Chakraborty suffered a net loss of Rs.4.6 million. Daga personally gained a part of the money," Shamim said.
The young executive gained with 20,000 shares of the scrip in his own trading account with another firm, he said.
Police are now trying to ascertain whether any of his colleagues were involved in the illegal trading.
Chakraborty grew suspicious when he could not log on to his account and learnt of the illegal transaction after contacting other top officials of Indiabulls, according to police.
He then filed a complaint at the Bhowanipore police station and the case was later transferred to the detective department.
Daga was Tuesday produced in court, which remanded him to police custody till Aug 18.
More from India
More from World
More from Sports
More from Entertaiment
- 6 leaders were in contact with Dawood Ibrahim till 26/11: Report
- DNA: Complete analysis of APJ Abdul Kalam's life and achievements
- Rameswaram waits to give final salute to Dr Abdul Kalam
- SC order on Yakub Memon huge disappointment, setback: Owaisi
- Last rites of Gurdaspur attack martyr Baljit Singh in Kapurthala
- APJ Abdul Kalam's funeral to be held in Rameswaram; PM Modi to attend
- LIVE: Yakub Memon buried in Mumbai; Rajnath says he got chance to express views in all forums
- Has President Pranab Mukherjee rejected Yakub Memon's mercy plea?
- SC refuses stay on Yakub Memon's hanging: As it happened
- 2 NDA, 4 UPA leaders were in contact with Dawood Ibrahim before 26/11: Report