Delhi Police Unravel Major Cyber Fraud Syndicate Using Bogus Companies
The Delhi Police have exposed a sophisticated cyber fraud operation that used a network of shell companies and mule bank accounts to dupe investors of nearly ₹2.7 crore. The syndicate, which lured victims through fake UK-based trading platforms, has led to the arrest of three individuals: Sunil Kumar, Vishal Choure, and his wife.
The Modus Operandi: Fake Firms and Mule Accounts
According to police, the accused created an intricate web of deception. They established front companies, including an electronics firm named GTR Electronics Pvt Ltd operating from a dilapidated office in East Delhi's Shakarpur, and a women's NGO called Udyam Women Empowerment Foundation based in Thane.
Deputy Commissioner of Police (Crime) Aditya Gautam stated that the investigation revealed the accused were actively involved in opening multiple mule bank accounts under the names of these shell companies. Once the accounts were operational, they provided complete access to cybercriminals who were running fraudulent investment schemes.
How Investors Were Trapped
The victims were ensnared through social media and other channels, where they were persuaded to invest in fake trading platforms such as Spreadex Global Ltd. The scammers used sophisticated, fake trading dashboards that displayed manipulated profits, convincing investors that their money was growing.
The case came to light when a complainant approached the police, alleging he had lost a staggering ₹1.6 crore. He revealed that a woman he met on social media had induced him to invest in the fake Spreadex Global Ltd platform. A police probe traced ₹15 lakh of his money to GTR Electronics and another ₹11 lakh to the Udyam Women Empowerment Foundation's account.
The Arrests and Investigation
Sunil Kumar was the first to be apprehended during a strategic police raid on November 24. He confessed to being the individual who registered GTR Electronics using fabricated documents, with the sole purpose of laundering fraudulently obtained funds. He handed over company documents and operational control to his associates running the main fraud.
The other two arrested, Vishal Choure and his wife, were allegedly running the Udyam Women Empowerment Foundation. DCP Gautam confirmed that the husband-wife duo operated the NGO's bank accounts and provided full access to the syndicate operators, making it a key channel for the proceeds of the cybercrime.
The police investigation has so far linked 13 complaints on the National Cyber Reporting Platform to GTR Electronics, involving ₹88.40 lakh. A further 45 complaints have been connected to the Udyam Women Empowerment Foundation, involving an additional ₹22 lakh.
This case highlights the increasing sophistication of cybercrime in India, where criminals are using legitimate-looking corporate structures to conceal illicit activities and defraud unsuspecting citizens.
