Crime branch busts cyber fraud network worth Rs 24 crore

The Delhi Police Crime Branch has busted a cyber fraud network running online investment scams through fake WhatsApp groups and bogus trading apps. Four people have been arrested in two separate cases, and a money trail of about Rs 24 crore has been traced. Police said the accused lured victims with promises of high returns through fake trading platforms and online groups.

In the first case, the complainant was allegedly cheated of Rs 31.45 lakh after being lured into a group and persuaded to install a fraudulent investment application named ‘Cventura’, Deputy Commissioner of Police (Crime Branch) Aditya Gautam said.

The victim was induced to transfer money into six different bank accounts on the promise of high returns. However, after he demanded profits, the group disappeared and the application became non-functional, they said. A case was filed and during the probe, the police found out that the amount cheated was routed through multiple mule bank accounts to layer and siphon off the funds.

Based on technical surveillance and bank account analysis, raids were conducted in Ludhiana and Khanna in Punjab, leading to the arrest of Rajiv (33) from Rupnagar and Monu Kumar (27) from Ludhiana.

Rajiv was found to be a mule account holder, with around Rs 6.45 lakh from the case credited to his account. Police said transactions exceeding Rs 1 crore were detected in his account before it was deactivated.

 Monu Kumar allegedly acted as a facilitator, luring people to open bank accounts and selling them to cyber fraudsters in return for commission, Gautam added.

 In the second case, the complainant joined a group named ‘VIP 10 Stock Sharing Group’ in July and was induced to invest through another fake application called ‘Verger’, the police said.

 The victim transferred Rs 47.15 lakh through multiple transactions into nine different bank accounts before the group and application were abruptly shut down, they said.

 During the investigation, police conducted raids in Hisar and Panchkula in Haryana and arrested Mohit, who allegedly opened a bank account in his wife’s name and handed over the account details to his associate.

 Further raids led to the arrest of Balwan from Churu in Rajasthan and Rajbir Singh, whose account was also used to route the cheated money, the police said.

 Investigators found that transactions of around Rs 3 crore and Rs 20 crore were conducted through the accounts of Mohit and Rajbir, respectively, within a short span, indicating large-scale money laundering, they added.

 The investigation has revealed a well-organised cyber fraud network operating across multiple states using fake investment groups, bogus mobile applications and layered mule accounts opened through local agents on commission, the police said.

 Several mobile phones, SIM cards, ATM cards, cheque books and bank documents have been seized, and efforts are underway to trace the end beneficiaries, identify more victims and arrest absconding accused, they added.