In a significant move against cyber financial crimes, the Delhi Police’s Crime Branch has dismantled an interstate investment fraud syndicate and apprehended a key suspect involved in diverting cheated funds. The arrested individual, Jamsheed K., 33, from Kerala’s Malappuram district, played a crucial role as a primary money handler in an organized cyber fraud scheme that deceived victims through fake investment plans.
The case revolves around an online investment scam reported by Sandeep Kumar, who fell prey to a Facebook message promoting a trading platform. Kumar was induced to join a WhatsApp group where members persuaded him to download a trading app called “INDIAN NIVESH” and invest in the stock market with promises of lucrative returns.
Kumar transferred a total of Rs 45.9 lakh to eight different bank accounts as directed by the fraudsters. The trading app displayed a fictitious profit of approximately Rs 7 crore in his account. However, when he tried to withdraw the amount, the request failed, and he was asked to deposit more money within a week to process the withdrawal, or face an account block.
Following the money trail, the police discovered that Rs 10 lakh, the largest initial transaction, was deposited into a bank account linked to a firm named JFS Traders in Kerala. This account, based in a private bank branch in Malappuram, received numerous suspicious transactions, indicating involvement in cyber fraud activities.
Further investigation exposed that the account was associated with over 21 cyber fraud complaints on the government’s Samanvaya portal, suggesting its use in various fraudulent operations across states. A specialized team, overseen by senior Crime Branch officials, was formed to pursue the case. The team utilized technical and manual surveillance to track down the accused in Kerala, leading to his arrest in Kondotty on April 5 with the help of local authorities.
Jamsheed, previously an auto driver who later worked in a fish market in Jeddah, Saudi Arabia, and engaged in fruit trading upon returning to India, allegedly began renting his bank accounts to cybercriminals for a commission after his business failed. He gradually became part of the fraud network. An FIR has been filed under relevant laws at the Crime Branch police station, and efforts are ongoing to identify and capture other members of the interstate syndicate. The Delhi Police anticipates that this arrest will aid in uncovering a broader cyber fraud network operating across multiple states and reaffirms its dedication to combating organized financial crimes.
