Interstate Cyber Fraud Syndicate Busted: 6 Arrested for Rs 3.76 Crore Scam
Last September, a Delhi-based real estate developer fell victim to a sophisticated online scam, lured by promises of high-yield returns on an ‘online stock trading platform’. Over several weeks, the platform encouraged him to invest more through an engaging interface and constant follow-ups, showing him apparent profits. By the time he realized it was a scam, he had already invested Rs 3.76 crore.
Delhi Police has now dismantled this cyber fraud syndicate, which allegedly has foreign-based handlers, by arresting six individuals between January 9 and 14. The arrests were made following raids in Mumbai, Kota, Noida, and Lucknow.
According to police, the interstate network operated a fake stock market investment scam. The accused used fake investment platforms, encrypted messaging apps, and a complex web of mule bank accounts to siphon off money from victims across different states. Once the funds were transferred, they were quickly layered through multiple accounts to obscure the trail.
The matter came to light after a complaint was filed by Krishan Kumar, who approached the police after realizing that the investment scheme he had joined was fraudulent.
Krishan had joined a WhatsApp group that shared trading tips. He was then contacted by one of the fraudsters, who helped him create an account on a ‘demat’ portal. He was then made to transfer money into an account in the name of investments. For a month, Krishan was shown screenshots of the profits he was making on his trading account, which lured him to invest more. However, when he tried to withdraw his investment, he was discouraged and told he would have to pay a fee. After the fraudsters stopped returning his calls, Krishan realized he had been scammed.
An FIR was registered on September 15, 2025, and the investigation was handed over to the Delhi Police’s Intelligence Fusion and Strategic Operations (IFSO) unit.
Police began by examining the bank accounts where the defrauded money had landed. One such transaction of Rs 10 lakh led them to a first-layer mule account of Sablu Kumar, a Navi Mumbai resident. Initial searches in Mumbai were unsuccessful, but they traced his location to Rajasthan’s Kota, where he was arrested on January 9.
At his instance, police tracked and arrested Wasim Ahmad from Uttar Pradesh’s Moradabad, in Southeast Delhi’s Jangpura on January 11. During a raid, he was arrested along with three associates: Rajesh Khan, Sahid Ali, and Mannu Issar. Forensic analysis of their mobile phones revealed details of multiple mule accounts, SIM cards, and transaction logs used to move defrauded funds.
The sixth accused, Manish Kumar, was arrested on January 14. He was found to have played a key role in managing fund flows and supplying accounts used not only for investment fraud but also for ‘digital arrest’ scams. Analysis of his WhatsApp chats revealed links to bank accounts tied to at least 52 cybercrime complaints across multiple states.
According to the police, the arrested individuals were primarily engaged in procuring, operating, and managing mule bank accounts on a large scale, acting on instructions from foreign-based handlers.
