In a significant crackdown on digital financial crime, the Delhi Police Crime Branch has dismantled a sophisticated interstate cyber fraud network. The operation led to the arrest of four individuals across two separate cases and uncovered a massive money trail amounting to approximately Rs 24 crore. The network was allegedly involved in cheating people through fake online investment schemes on social media and fraudulent trading applications.
Modus Operandi: Fake Groups and Bogus Apps
According to the police, the accused operated by creating counterfeit investment groups on popular social media platforms. They lured victims with promises of exceptionally high returns on their investments. Once interested, the victims were persuaded to download and install fraudulent trading applications that were designed to look legitimate.
"In the first case, a complainant was cheated of Rs 31.45 lakh after being added to a group and convinced to install a fake app. When the victim later sought returns or tried to withdraw funds, the group suddenly vanished, and the application stopped functioning completely," explained DCP (Crime) Aditya Gautam.
First Case: Arrests in Punjab
The investigation into the first case revealed that the cheated money was funneled through a series of 'mule' bank accounts—accounts used to layer and hide the origin of illicit funds. Following the digital trail, police teams conducted raids in Ludhiana and Khanna in Punjab.
These raids resulted in the arrest of two individuals: Rajiv (33) and Monu Kumar (27). Police stated that Rajiv allegedly permitted his personal bank account to be used for the fraudulent transactions in exchange for a commission. Monu Kumar's role was to facilitate the opening and subsequent sale of such bank accounts to the fraudsters. Authorities are currently searching for two more associates who are absconding in connection with this case.
Second Case: VIP Group Scam and Arrests in Haryana, Rajasthan
In a parallel and unrelated case, another victim suffered an even larger loss. The individual was enticed into joining a social media group named "VIP 10 Stock Sharing Group" and subsequently invested money through a recommended application, which was also fake. This victim lost a staggering Rs 47.15 lakh.
The investigation showed that the funds were transferred through multiple bank accounts spread across different states to obscure their path. Police carried out coordinated raids in Haryana and Rajasthan, leading to the arrest of three accused: Mohit, Balwan, and Rajbir Singh. These individuals are alleged to have provided and arranged the bank accounts that were used to launder the stolen money.
Well-Organised Interstate Network Uncovered
Police officials highlighted that the probe has exposed a well-organised interstate network with a clear division of labour. The network's operation relied on a trifecta of tools: fake trading applications, deceptive social media groups, and a layered web of bank accounts to siphon off funds from unsuspecting investors.
During the searches, law enforcement seized several pieces of crucial evidence, including mobile phones, SIM cards, and various banking documents. The investigation remains active, with efforts focused on tracing the remaining accused and attempting to recover the cheated money for the victims.
This bust serves as a stark warning against online investment offers that seem too good to be true and underscores the importance of verifying the authenticity of trading platforms and financial advisors online.
