Delhi Police bust ₹1.56 crore online investment scam, 2 arrested from Uttar Pradesh
Delhi Police has busted an online investment fraud racket involving transactions worth around ₹1.56 crore and arrested two accused persons from Uttar Pradesh, officials said on Monday.
The accused, identified as Mohammad Sadik (32) and Javed Ansari (34), allegedly used mule bank accounts to receive and transfer money cheated from victims through online investment scams.
The case came to light after a woman from Delhi’s GTB Enclave filed a complaint stating that she was duped of ₹21 lakh after being lured through a fake stock market investment advertisement on social media.
Police said the victim was added to a fraudulent online group where scammers posed as investment experts and promised high returns. After she invested money over time, the fraudsters stopped responding and later blocked her when she tried to withdraw funds.
Following technical analysis and financial tracking, police traced the bank accounts used in the scam and conducted raids in Uttar Pradesh’s Amroha and Moradabad, leading to the arrests.
Preliminary investigation revealed that the accused knowingly facilitated cybercrime operations by allowing their bank accounts to be used for routing illegal funds.
Officials said the case appears to be part of a larger cyber fraud network operating across multiple states, and efforts are underway to identify other members involved in the syndicate and trace the complete money trail.
