Delhi Police Busts ₹47.20 Lakh Online Investment Scam
Delhi Police Cracks Down on Sophisticated Cyber Fraud Network
In a significant blow to cybercrime, the Delhi Police’s Crime Branch has dismantled a complex online investment scam ring, resulting in the arrest of three individuals who allegedly conned a victim out of ₹47.20 lakh.
The scam, which involved fake promises of high returns on stock, equity, and IPO investments, highlights the need for vigilance in the face of increasingly sophisticated digital threats.
- The investigation revealed that the scamsters had created a complex network of bank accounts, including one held in the name of Orange Herbs Private Limited, which received and distributed a portion of the stolen funds.
- This account was linked to at least 12 other cyber-fraud complaints, indicating its repeated use in illicit transactions.
The investigation spanned multiple states, including Haryana, Punjab, Chandigarh, and nearby regions, with the help of technical surveillance, financial tracing, and ground intelligence.
- The Crime Branch team conducted coordinated operations, resulting in the arrest of three key individuals.
Vishal Chauhan, a 47-year-old resident of Jind in Haryana, was arrested for allegedly sharing his bank account credentials, SIM cards, debit cards, and cheque books with the scamsters in exchange for a commission.
Ritvik Yadav, a suspect who acted as a mediator in the operation, was apprehended in Jaipur, Rajasthan. He is believed to have procured bank kits and SIM cards from account holders like Chauhan and distributed them within the scam network in return for commissions.
Priyal Pratap Yadav, a 22-year-old resident of Mainpuri in Uttar Pradesh, was taken into custody from the Kingsway Camp area in Delhi. A mobile phone used for executing fraudulent transactions was recovered from his possession.
The investigation has established that the arrested individuals were part of a larger organized syndicate that operated by purchasing or renting bank accounts from individuals and firms.
These accounts were used to route cyber-fraud proceeds, with commissions reportedly ranging between 25% and 40%, depending on the role and risk involved.
Police have warned citizens to remain cautious of fake investment platforms promising unrealistic returns, as such scams continue to evolve with more sophisticated digital methods.
The authorities are intensifying efforts to identify additional members of the syndicate and uncover the wider network involved in similar cyber-fraud activities.