Delhi Police arrested two men for facilitating an online investment fraud racket by operating mule bank accounts. The network is linked to cyber fraud transactions amounting to approximately Rs 1.56 crore, following a woman’s complaint of being duped.
Online Investment Fraud Racket Busted
As per the official release, the Cyber Police Station of Shahdara District has busted an online investment fraud racket and arrested two accused persons who were facilitating cyber fraudsters by providing and operating mule bank accounts. These accounts were used to transfer and conceal fraudulently obtained money. The network has been linked to cyber fraud transactions amounting to approximately Rs 1.56 crore.
Woman Duped of Rs 21 Lakh
An e-FIR registered on April 9 under Sections 318(4), Sections 319 and Sections 340 of the Bharatiya Nyaya Sanhita (BNS) was registered at Police Station (PS) Cyber Shahdara on the complaint of a woman resident of GTB Enclave in the national capital. The complainant reported that she had been cheated out of Rs 21 lakh in an online investment scam.In April 2026, she came across an online advertisement related to stock market investments on Telegram. After clicking the link, she was added to a Telegram group where fraudsters posed as investment experts and promised high returns and safe investments, as per the release.Trusting their claims, the complainant invested a total of Rs 21 lakh. However, when she later sought returns on her investment and requested withdrawal of her funds, neither the promised profits nor the invested amount was returned. She was subsequently blocked from the Telegram groups, revealing that she had been duped.
Police Investigation and Arrests
Based on her complaint, a case was registered and an investigation was initiated. Considering the seriousness of the case and the large financial loss involved, a dedicated team was constituted. Acting on technical surveillance and intelligence inputs, police teams conducted raids in Amroha and Moradabad districts of Uttar Pradesh.The official added in its release, based on technical evidence and sustained interrogation, the two accused — Mohd. Sadik and Javed Ansari were formally arrested in the case.During interrogation, both accused disclosed that they were knowingly providing and operating bank accounts for cyber fraudsters. These accounts were used to receive proceeds of crime and transfer the money to various other accounts.The accused remained in regular contact with their associates through WhatsApp. The bank accounts were primarily used in online investment frauds and other cybercrime activities. By using mule accounts, the fraudsters layered and routed the stolen money through multiple transactions, making it difficult for investigators to trace the actual source and beneficiaries of the funds.
Multi-State Network, Investigation Ongoing
The investigation has further revealed that the cyber fraud network was operating across multiple states. Further efforts are underway to identify and apprehend other members of the syndicate and trace the complete money trail. Further investigation is still ongoing. (ANI)(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)