Noida: Noida Police, on Monday, arrested two from the state for allegedly duping people of crores of rupees by promising them high returns on investment.

Vinod Kumar Dhama and Ravindra alias Nawab were apprehended by the state police's Special Task Force (STF) from a residential society in Ghaziabad, they said.

STF (Noida Unit) Superintendent of Police Rajkumar Mishra said Dhama and Ravindra, residents of Uttar Pradesh's Baghpat district, are part of a gang that lured people to invest in stocks by promising them 10 and 15 per cent return on investment every month.

He said a search is underway to trace the other members of the gang.

"Both have confessed to defrauding more than 500 people in Uttar Pradesh, Delhi, Haryana , Rajasthan and Hyderabad of more than Rs 70 crore," Mishra said.

(with PTI inputs)