Major International Investment Fraud Racket Busted by UP Police in Agra
In a significant cybercrime operation, the Uttar Pradesh Police on Saturday dismantled a sophisticated international investment fraud network that had already swindled victims of crores and was poised to cheat nearly 1.5 lakh people out of approximately Rs 500 crore. Acting with crucial support from the Indian Cybercrime Coordination Centre (I4C), an initiative of the Union Home Ministry, authorities conducted coordinated raids across seven states, resulting in the arrest of 12 accused individuals.
Massive Fraud Operation Uncovered
Superintendent of Police (Rural) Amrit Jain revealed that police successfully shut down more than 600 fraudulent WhatsApp investment groups operated by the gang. The criminals lured unsuspecting victims with promises of extraordinary returns of up to 200% through fake share market investment schemes. Investigators uncovered that the network had extensive international connections, with illicit funds being routed through Indian mule bank accounts before being converted into USDT cryptocurrency and traced to IP addresses located in Southeast Asia, including Hong Kong.
Victim's Harrowing Experience Exposes Scam
The case came to public attention after Dinesh Kumar Sharma, a retired deputy general manager of Punjab National Bank residing in Swarn Jayanti Nagar, Aligarh, filed an official complaint. Sharma detailed how fraudsters initially contacted him via WhatsApp in November, promising modest returns of 35–40%. In December, he was persuaded to invest Rs 5,000 and subsequently added to WhatsApp groups named "VIP Profit Club," where so-called experts shared fabricated screenshots and videos displaying massive profits.
Tempted by assurances of returns reaching up to 200%, Sharma ultimately invested a staggering total of Rs 1.10 crore in multiple instalments but received absolutely no returns. When he questioned the delays, the fraudsters assigned him new "tasks" and later pressured him to invest an additional Rs 3 crore. Growing suspicious, Sharma informed his family and formally lodged a complaint on January 31, triggering the police investigation.
Imminent Financial Disaster Averted
SP Jain emphasized the urgency of the situation, stating, "Investigations revealed that investors were about to be defrauded of Rs 500 crore within the next 48 hours. Police made personal calls to more than 500 people to alert them and prevent further losses." This proactive intervention prevented what could have been one of the largest financial frauds in recent memory.
Nationwide Police Operation and Legal Action
Based on Sharma's complaint, a case was registered at the cyber police station. Under the supervision of Cyber Crime Circle Officer Sanjana Singh, In-charge Inspector B D Pandey, and the dedicated cyber cell team, five specialized teams were formed to execute arrests across seven states. The arrested individuals include four from Odisha, three from Uttar Pradesh, two from Uttarakhand, and one each from Rajasthan, Chhattisgarh, and Haryana.
Police have registered the case under multiple sections of the Bharatiya Nyaya Sanhita (BNS), including section 111(4) for being a member of an organized crime syndicate, section 61(2) for criminal conspiracy, section 340 for using forged documents or electronic records as genuine, section 336 for forgery, and section 318(4) for cheating, along with section 66 of the Information Technology Act. Senior Superintendent of Police Neeraj Kumar Jadaun has announced a reward of Rs 25,000 for the police team responsible for cracking this complex case.
International Cooperation and Ongoing Investigation
SP Jain confirmed that police are actively coordinating with the Central Bureau of Investigation (CBI) and Interpol to track down the gang leaders who are believed to be operating from abroad. The international dimension of this fraud, involving cryptocurrency transactions and foreign IP addresses, underscores the sophisticated nature of modern cybercrime and the necessity for global law enforcement collaboration.
