The Intelligence Fusion and Strategic Operations (IFSO) unit of the Special Cell of Delhi Police has dismantled an interstate cybercrime syndicate involved in a fraudulent stock market investment scheme. Six individuals have been apprehended, and nine mobile phones have been seized in connection with the case. The syndicate allegedly lured victims with promises of high returns on online stock market investments and then diverted funds through counterfeit trading platforms and mule bank accounts.
The scam, which targeted unsuspecting individuals seeking investment opportunities, was orchestrated by cybercriminals located overseas, with local operatives managing the financial transactions within India. The investigation was initiated following a complaint by a real estate developer who reported a loss of around ₹3.76 crore due to the fraudulent investment scheme. Subsequently, an e-FIR was filed at the Special Cell police station, leading to the involvement of the IFSO unit.
Authorities uncovered a network of mule bank accounts used to channel the ill-gotten funds during the probe. Raids conducted in Mumbai, Kota, Noida, and Lucknow resulted in the arrest of the six accused individuals actively engaged in the operation of these accounts. The seized mobile phones provided critical digital evidence, including information on the fraudulent bank accounts, indicating the involvement of foreign-based masterminds orchestrating the financial transactions.
Forensic analysis of the confiscated mobile devices revealed the intricate nature of the scam, which spanned multiple states and involved the systematic laundering of illicit proceeds. The investigation is ongoing to identify additional collaborators, track the complete money trail, and scrutinize the roles of other accomplices associated with the criminal syndicate. Delhi Police emphasized their firm stance against cybercrime and investment fraud, urging the public to exercise caution when encountering online investment opportunities promising abnormally high returns and to promptly report any suspicious activities.
