In a significant crackdown on financial cybercrime, the Delhi Police has apprehended six individuals for allegedly defrauding a real estate businessman of a staggering Rs 3.8 crore through a fraudulent stock market investment scheme. The elaborate scam involved the use of fake online platforms, advanced digital tools, and a network of mule bank accounts to siphon off funds.
Modus Operandi of the Fraudulent Scheme
According to police officials, the complainant was lured into an online stock market investment scheme that promised assured high returns. After transferring substantial amounts, he received no payments and eventually discovered the scheme was entirely fraudulent, prompting him to approach the authorities.
The investigation revealed that the syndicate was allegedly directed by cybercriminals operating from abroad. The accused utilized sophisticated methods to conceal their activities and transfer illicit gains.
Key Arrests and Investigation Details
Deputy Commissioner of Police (IFSO) Vinit Kumar stated that the police team meticulously analyzed bank accounts linked to the fraud. Their efforts led to the discovery that Rs 10 lakh had been credited to a first-layer mule account held by one of the accused, Sablu Kumar, a resident of Navi Mumbai.
Despite initial unsuccessful searches in Mumbai, technical surveillance later traced Sablu Kumar to Kota, Rajasthan, where he was arrested. Based on disclosures made during his interrogation, police tracked another key accused, Wasim Ahmad, to south-east Delhi's Jangpura area.
Wasim Ahmad was arrested along with three of his associates: Rajesh Khan, Sahid Ali, and Mannu Issar. Interrogation and forensic examination of their mobile phones uncovered detailed information about several mule bank accounts being used to route the cheated money.
Role of the Account Manager
Another significant arrest was that of Manish Kumar from Dwarka, Delhi. Police investigations indicated that he managed the inflow and outflow of fraud proceeds and supplied mule bank accounts for routing money generated through various scams.
Analysis of his digital chats allegedly revealed links to multiple bank accounts against which at least 52 complaints had been registered across several states, highlighting the extensive reach of this fraudulent network.
Broader Implications and Police Efforts
This case underscores the growing threat of sophisticated cyber frauds targeting investors in India. The use of fake investment platforms and mule accounts poses significant challenges for law enforcement agencies.
The Delhi Police's successful operation demonstrates the importance of technical surveillance and coordinated efforts in tackling such complex financial crimes. Authorities continue to investigate potential links to international cybercriminals and other accomplices involved in this network.
