NEW DELHI: One person has been arrested by the Economic Offences Wing (EOW) of the Delhi police for allegedly duping a businessman of several lakhs of rupees by hacking into his online trading system.

According to the police, J.U. Mansukhani, director of Mansukhani Commodity Private Limited, had lodged a complaint with the EOW in September last saying that unauthorised transactions worth Rs. 15 lakhs were carried out using his online multi-commodity trading system.

Following investigations, the Intellectual Property Rights Section of the EOW arrested Param Deep Singh, a resident of Amritsar in Punjab, a couple of days ago. The police have frozen the accounts of the accused and also recovered Rs. 8 lakhs in cash from him.

Online trader

The police said Mr. Mansukhani was a member of Multi-Commodity Exchange (MCX), which traded online in several commodities like metals, non-metals, petroleum products and other such items. The members were given unique user identities and passwords. They could log on to the MCX using a VSAT, leased line or Internet.

Usually, online trading networks, like the one for share-brokers, permit trade only though VSAT or a leased line and those intending to log on to the network through Internet required to maintain their own servers that was further linked to the main system.

Investigations, however, revealed that the MCX had allowed the access to the system using both the Internet and the VSAT as trading would continue till late.

Fake address

Deputy Commissioner of Police (EOW) Prabhakar said the phone number that was used to log on to Mr. Mansukhani's system was a Reliance number and the address mentioned was that of Jatinder Kaur, a resident of Amritsar. But the address was found to be false and the real identity of the person was established as Param Deep.

Param Deep, a matriculate, who ran a firm of foreign exchange and commodities trading at Amritsar, was one of the clients of Mr. Mansukhani and had managed to track down his user identity and password. He had logged on to the system through Internet and used to do so only after 11-30 p.m. when most members were offline. Two more persons were involved in the fraudulent trading. The police have established their identities and efforts were on to arrest them.

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